Nike has told staff that more jobs will go under a restructuring programme designed to save about $2.5B (£1.89B) through fiscal 2031, as it forecasts that annual sales will fall by a high-single-digit percentage.
Chief executive Elliott Hill, who returned to run Nike in October 2024, set out the plan, named Pace, in a note to employees on 1 October, the day Nike reported first-quarter results. 'This work will result in fewer roles across Nike,' he wrote.
