Nike Announces Layoffs in Latest Corporate Restructuring
Nike has announced plans to lay off less than 1% of its corporate workforce. This move is part of CEO Elliott Hill’s ongoing efforts to restructure the sportswear giant and refocus on athletic performance. The layoffs will primarily affect corporate employees in the U.S. and Canada, marking a significant step in Hill’s “sport offense” strategy to revitalize the company.
The restructuring signifies a fundamental shift in how Nike organizes its teams. Moving away from the previous segmentation by demographics (men’s, women’s, and kids’), the company will now organize around sport-specific categories like running and football. Hill emphasized that teams will be “sport-obsessed” and dedicated to creating innovative products for specific athletes.
This is the third round of layoffs at Nike since early 2024, following a 2% workforce reduction in February that affected over 1,500 jobs. The move comes at a time when Nike is grappling with declining revenues, increased competition from brands like On Running and Hoka, and an expected $1 billion impact from new tariffs. Employees were notified they would work from home until September 8, with final role determinations by September 21.
Source: CNBC