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Nike Slashes 1,400 Tech Jobs in Major Overhaul
24 Apr
Summary
- Nike is eliminating approximately 1,400 positions globally.
- The majority of job cuts are within the technology division.
- These layoffs are part of Nike's 'win now' turnaround strategy.
Nike is undergoing a substantial restructuring, with approximately 1,400 employees set to be laid off from its global operations, predominantly in technology. This decision was communicated via a staff memo from Chief Operating Officer Venkatesh Alagirisamy.
The reductions are a strategic component of Nike's ongoing "win now" turnaround initiative. This plan emphasizes five core pillars: culture, product, marketing, marketplace, and in-person engagement.
Key changes include modernizing manufacturing processes and reallocating resources. The company is also actively reshaping its technology division to align with its strategic goals. This is Nike's second round of job eliminations this year, following earlier cuts affecting distribution center roles.
CEO Elliott Hill has acknowledged that the turnaround strategy is progressing slower than anticipated. The company continues to focus on revitalizing its operations through these significant workforce adjustments.
