BEAVERTON, Oregon, April 26, 2026, 07:04 PDT
Nike, Inc. is eliminating roughly 1,400 jobs worldwide, targeting technology positions most heavily as it tries to speed up its turnaround and simplify operations. That’s nearly 2% of its employees across the globe. Jefferson City News-Tribune
The timing here is key: Chief Executive Elliott Hill’s turnaround strategy is now hitting Nike’s core operations, after earlier efforts on products and branding. The company has been struggling with a prolonged sales downturn, losing ground on retail shelves to nimbler competitors like On, Hoka, and Anta. Reuters
U.S. equity markets closed for the weekend saw Nike finish Friday at $44.69, slipping 0.2%. That leaves the company’s market cap hovering around $66.2 billion. The share price has been grinding lower, stretching investor patience as the turnaround drags on.
Nike is pulling much of its tech work into two main hubs: the Philip H. Knight Campus in Beaverton and its India Technology Center. The company also confirmed shifts in work locations, restructuring of teams, and adjustments to headcount within Global Operations. Nike
Chief Operating Officer Venkatesh Alagirisamy told staff in a memo, “This is not a new direction. It is the next phase of the work already underway.” According to the memo, the company is in the “final stretch” of its Win Now plan—a program targeting culture, product, marketing, marketplace, and physical retail presence. Business Insider
This restructuring reaches beyond software or data. Nike is reworking staffing at its Air Manufacturing Innovation sites in Beaverton, St. Louis, and Vietnam. Some Converse footwear manufacturing and engineering roles are being shifted closer to factory partners. Parts of the materials supply chain are now being integrated into the footwear and apparel teams. Retail Dive
The layoffs come against a tough backdrop for Nike. Third-quarter revenue landed at $11.3 billion, matching last year’s tally, but Nike Direct sales slipped 4%. Gross margin took a 130 basis point hit, down to 40.2%, as higher North American tariffs weighed. Nike Investor Relations
Hill, in March’s results statement, pointed to “meaningful actions” already underway, though he cautioned that “the work is not finished.” Finance chief Matthew Friend noted the Win Now efforts will continue to pressure results for the rest of the calendar year. Nike
The cuts don’t solve Nike’s core problem: costs might drop faster than demand recovers. The company is bracing for sales to dip 2% to 4% this quarter—China, in particular, could tumble 20%. Morningstar’s David Swartz put it plainly to Reuters, saying the layoffs point to “problems run deeper than originally thought.” Reuters
Nike has already logged a hefty tab for its restructuring. For the nine months ended Feb. 28, filings show the company booked $304 million in estimated pretax severance tied to layoffs. More cuts could be on the table, with Nike warning it might take further steps that may push charges higher in coming quarters. SEC
Nike is pushing for fewer layers and greater automation to move products faster—a key concern in a segment where running shoes and lifestyle sneakers can shift pace in a hurry. According to CIO Dive, the company’s tech-centered job cuts land as firms reevaluate staffing and funnel more spending into AI and automation. CIO Dive
The notifications started going out to affected staff on Thursday, the company memo showed. Alagirisamy said the moves are designed to make Nike “less complex and more responsive”—which boils down to a critical question: Can a slimmer Nike bring shoppers back before competitors grab more ground? sfchronicle.com
