Nike Plans Job Cuts to Save $2.5 Billion as China Sales Slide 26%
Updated
Updated · Fox Business · Oct 2
Nike Plans Job Cuts to Save $2.5 Billion as China Sales Slide 26%
3 articles · Updated · Fox Business · Oct 2
Summary
Nike said its new "Pace" overhaul will eliminate roles across the company over time, with decisions on affected jobs beginning in 2027.
The restructuring targets about $2.5 billion in savings through fiscal 2031 as Nike tries to revive growth after weak sales, including a 26% constant-currency revenue drop in China last quarter.
The plan reorganizes Nike into three geographic regions, shifts Asia Pacific and Greater China leadership to Singapore, and opens a new campus in Bengaluru, with some roles moving from Beaverton.
Most savings are expected in fiscal 2029 and 2030, and Nike said it will provide more detail at its Nov. 16-17 Investor Day.
The move follows roughly 1,400 layoffs announced in April—just under 2% of Nike's workforce—as the company pushes a broader operating reset.