Nike announced it will cut approximately 1,400 jobs in its global operations division as part of a broader efficiency push. The layoffs primarily affect technology workers across North America, Asia, and Europe.
Key Takeaways
Nike announced it will cut approximately 1,400 jobs in its global operations division as part of a broader efficiency push and turnaround strategy. The layoffs primarily affect technology workers across North America, Asia, and Europe.
- Nike to reduce about 1,400 roles in global operations
- Layoffs mainly target technology team members
- Job cuts represent less than 2% of the company's global workforce
- CEO Elliott Hill aims to refocus on core sports and innovation
The job cuts are the latest step in Nike's turnaround strategy under CEO Elliott Hill, who took over in 2024. According to COO Venkatesh Alagirisamy, the layoffs will help streamline workflows and better integrate supply chains for materials, footwear, and apparel.
The company has been struggling with a years-long sales slump, particularly in China where it expects a 20% drop in sales this quarter. Nike shares have lost more than half their value over the past three years as competitors like On, Hoka, and Anta gain market share.
This is the second round of layoffs for Nike this year, following 775 job cuts in January at U.S.-based distribution centers. The company had another round of cuts last summer affecting less than 1% of its workforce.
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