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Nike announces global layoffs
Nike Group announced on the 23rd that it will lay off about 1400 employees worldwide, most of whom will be concentrated in the technology department, in order to support its strategic transformation plan. This is also Nike's second round of layoffs this year.
In a memo sent to employees on the 23rd, Nike stated that the group will lay off approximately 1400 employees in North America, Asia, and Europe, accounting for about 2% of the global workforce, with the majority concentrated in the technology department. The group pointed out that this round of layoffs is part of Nike's strategic transformation, aimed at reshaping the technology team, modernizing some product manufacturing, and integrating material, shoe, and clothing supply chains.
It is reported that in recent years, Nike has carried out multiple rounds of layoffs due to poor performance and strategic transformation. In January of this year, the group announced the layoff of 775 employees to integrate its US distribution center business located in Tennessee and Mississippi.
As of the third quarter financial report of the 2026 fiscal year ending in February this year, Nike's revenue reached $11.28 billion, which was basically unchanged year-on-year; The net profit was 520 million US dollars, a year-on-year decrease of 35%. The group also expects a revenue decline of 2% to 4% in the fourth quarter. It is reported that in response to multiple pressures such as weak consumer markets and competition eroding market share, Nike continues to promote a dual wheel driven strategic transformation of "winning in the present" and "returning to the essence of sports". However, poor performance has raised concerns among investors about whether the sports brand's multi-year transformation plan can proceed as scheduled. Since the beginning of this year, Nike's stock price has fallen nearly 30%.
Source: CCTV Finance (ID: cctvyscj)
Producer: Ke Chengyun
Editor in Chief: Wu Yang
Editor: Zhang Yafang
(Editor in charge: Shan Xiaobing)
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