Nike confirms further job cuts in major turnaround plan

• Nike has announced a further 1,400 job cuts, marking its second major round of layoffs this year.
• The majority of these redundancies will impact Nike's technology team, with workers affected across North America, Europe, and Asia.
• The sportswear giant stated the cuts are part of its 'Win Now' action plan, aimed at simplifying operations and improving responsiveness.
• This move follows a significant 10 per cent drop in Nike's revenue for its 2025 fiscal year compared to the previous year.
• Earlier in January, Nike had already laid off nearly 800 employees at its distribution centres in Tennessee and Mississippi.

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Nike cuts 1,400 more jobs in its second major round of layoffs this year