Nike is set to cut around 1% of its corporate workforce as part of its ongoing turnaround strategy under CEO Elliott Hill, according to a report by CNBC on Thursday. The company confirmed the layoffs in a statement but did not specify the exact number of jobs that will be affected.
The job reductions will not impact Nike’s EMEA operations or its Converse brand. As of May 31, Nike employed about 77,800 people worldwide, including both retail staff and part-time workers.
This move follows a larger round of layoffs in February 2024, when Nike announced it would reduce its workforce by 2%, eliminating more than 1,600 jobs to cut expenses amid slowing consumer demand.
Nike has yet to provide an official comment to Reuters regarding the latest cuts. The move highlights the company’s ongoing efforts to streamline operations and regain momentum in a highly competitive global sportswear market.
