Nike has confirmed layoffs within its technology division as part of an internal restructuring strategy. According to a company representative who spoke to Reuters, the sportswear giant is transitioning some of its tech operations into third-party vendors. While the exact number of affected employees has not been disclosed, the decision was reportedly made last week.
This move follows ongoing efforts by Nike to streamline operations and regain market momentum. The company has been grappling with declining consumer interest and increased competition from emerging sneaker brands. In March, Nike projected a sharper-than-expected drop in fourth-quarter revenue, signalling a cautious outlook as it seeks to reconnect with its customer base.
Earlier this month, CEO Elliott Hill, who took over leadership in October, announced a series of changes to the senior leadership team. These leadership adjustments are aimed at reviving innovation and helping the brand develop more appealing and trend-forward designs.
The tech layoffs come as Nike continues its broader turnaround initiative focused on efficiency, innovation, and restoring brand appeal in a competitive global market.
Reference
Reuters
