Overview
- Nike disclosed Friday that about 1,400 jobs will be cut in Global Operations, with most losses in technology roles.
- The company describes the action as the final phase of its “Win Now” plan to speed work through automation and a leaner structure.
- This round follows January’s 775 distribution-center cuts, bringing recent reductions to more than 2,000 positions.
- The restructuring follows fiscal Q3 profit falling 35% to $520 million on flat sales of about $11.28 billion, with guidance for a 2% to 4% revenue decline next quarter.
- Analysts cite weak demand in China, a slump at Converse, and rising rivals like On and Hoka as key pressures, while CEO Elliott Hill told affected staff they will hear directly from managers and HR and offered thanks for their contributions.