Nike Lays Off 1,400 Employees Worldwide in Cost Cuts

Nike announced on Thursday that it will lay off approximately 1,400 employees worldwide, marking the company's second major round of job cuts this year as it seeks to streamline operations amid a prolonged sales decline.

The reductions, detailed in a memo from Chief Operating Officer Venkatesh Alagirisamy, primarily target the technology team and represent less than 2 percent of Nike's global workforce. The layoffs affect staff in North America, Europe, and Asia, with implementation beginning immediately. Affected employees will receive direct notifications from leaders and human resources partners starting Thursday, along with support for their transition, Alagirisamy wrote.

These changes form part of Nike's "Win Now" action plan, launched to address a yearslong revenue slump and foster long-term profitable growth. The company reported $46.3 billion in revenue for its fiscal year 2025, which ended in May, a 10 percent decrease from the previous year. "Across the company, we have been taking deliberate steps to strengthen our foundation, sharpen how we compete, and build a model designed to deliver long-term profitable growth," Alagirisamy stated in the memo. He emphasized that...