Nike’s 1,400 Job Cuts Reveal the Hard Part of Its Sneaker Comeback
Nike will cut about 1,400 global operations jobs, nearly 2% of its workforce, with technology roles most affected. The company is consolidating tech work at its Beaverton campus and in India as part of a broader restructuring. Nike reported flat third-quarter revenue at $11.3 billion and expects sales to drop up to 4% this quarter. Severance costs have reached $304 million so far.