Nike announced on Thursday that it will cut about 1,400 jobs across its global operations, with most of the losses falling on its technology workforce in North America, Europe and Asia, as the company pushes ahead with a 'Win Now' turnaround strategy under chief executive Elliott Hill.
Nike has been trying to halt sliding sales and restore its once effortless growth story for several years, with Hill now under pressure to deliver results quickly. The latest layoffs follow a January announcement of 775 job losses at US distribution centres, where roles were replaced as the company stepped up automation, and a further, smaller round of cuts last summer that affected less than 1% of its corporate staff. The cumulative effect is a business that, on paper, is getting leaner even as it talks up innovation and speed.
