(Beaverton, OR)  --  Nike is laying off roughly 700 employees at its world headquarters in Beaverton.  Nike announced this week the layoffs will happen before the end of the year.  Nike reported the workforce reduction to the state as part of what it calls a restructuring for the company.  New CEO John Donahoe announced in July that the sports apparel giant would refocus its business model to emphasize online sales directly to consumers.