Nike Fires FuelBand Team in Move to Ditch Wearables

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Nike made an abrupt exit from the crowded wearable technology market Friday. The sportswear giant fired much of the team responsible for the development of its FuelBand and shelved plans for a new version of the fitness tracker, CNET reports

Up to 55 people from Nike’s 70-member hardware team were let go from the company Thursday. In an email to CNET, a Nike spokesperson confirmed “a small number of layoffs.” But added: “We do not comment on individual employment matters.”

News of the impending firings appeared on the anonymous social app Secret last week Read more…

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