Nike to cut about 1% of corporate staff amid turnaround effort
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Nike announced on Thursday that it plans to cut less than 1% of its corporate workforce as part of a broader turnaround strategy under Chief Executive Officer Elliott Hill.
Since taking the helm, Hill has sought to reinvigorate the sportswear giant by doubling down on its running shoe and sneaker lines, while strengthening ties with retailers and expanding the brand’s physical store footprint to counter intensifying competition.
As of 31 May, Nike employed around 77,800 people worldwide, including retail and part-time staff. The planned layoffs come after Hill outlined a new strategy in June to “realign” the company into cross-functional teams organised by sport.
“This new formation is built to put sport and sport culture back at the centre, to connect more deeply with the athlete and the consumer,” Nike said in a statement.
The job cuts will not affect the company’s EMEA operations or its Converse business, though it remains unclear how many positions in total will be impacted, according to CNBC.
This latest move follows a larger reduction last year, when Nike cut 2% of its workforce – more than 1,600 jobs – to curb costs amid softer demand. In June, the company also announced plans to reduce reliance on Chinese production for the U.S. market to mitigate tariff pressures.
