Nike lays off tech workers amid department shakeup
Nike Inc. has laid off employees within its technology division as part of a broader restructuring to realign strategic priorities.
According to sources familiar with the matter, the job cuts affected staff in the company's strategic enterprise and corporate functions departments, which oversee key business processes. One source noted that Nike is shifting some of that work to third-party vendors.
A spokesperson for Nike confirmed the departure of tech workers.
Since returning from retirement to take over as chief executive officer in October, Elliott Hill has implemented significant changes in leadership across the organization. He has appointed new heads for several departments, including strategy, human resources and sports marketing. Muge Dogan, formerly of Amazon.com Inc., remains Nike's chief technology officer.
Nike's technology unit has faced challenges in recent years. In 2023, its chief digital information officer exited the company amid bribery allegations. A former employee later filed a lawsuit in Oregon related to those accusations.
Hill's efforts to turn around the business come amid declining sales and waning investor confidence. Analysts point to the previous leadership's heavy focus on lifestyle products, which strained relationships with retail partners and shifted the brand away from its sports-driven roots.
The company's strategy to reignite growth includes a renewed focus on sports and wholesale channels. However, progress has been hindered by trade tensions under U.S. President Donald Trump and inconsistent consumer spending in the domestic market.
Nike shares have fallen 18% so far this year through Monday's close, significantly underperforming the S&P 500 Index, which has risen 1.4% during the same period.
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