Nike will eliminate 1,400 jobs globally. This reduction marks the final phase of the company's Win Now turnaround strategy.
The restructuring targets global operations and technology departments to modernize manufacturing. Chief Operating Officer Venkatesh Alagirisamy stated the changes aim to improve operational speed and simplicity.
Nike reported a 35% decline in net income for the third quarter of fiscal year 2026. This move follows a separate round of layoffs conducted earlier this year.
The company is streamlining decision-making to reallocate resources. These actions respond to a challenging consumer market and delayed turnaround efforts.