Nike (NKE) signaled plans of continuing job cuts next year as it posted its fiscal Q1 earnings yesterday evening, after featuring a disappointing outlook for its full financial year. The footwear giant has already eliminated more than 2,100 tech and distribution roles across two tranches in 2026.
As investors responded to the quarterly miss on revenue and guidance for a high-single-digit decline for fiscal 2027, Nike stock crashed to a low under $33 this morning.
