Nike announces new large-scale layoffs

American footwear and apparel manufacturer Nike has announced its intention to cut staff and reorganize business units worldwide due to falling revenue.

This was reported by the Reuters agency.

According to its information, the main catalyst for the decline in profit was the drop in buyer interest in China, which accounts for about 15% of Nike's annual revenue. At the moment, it is unknown how many employees management intends to cut. The distribution of notices will begin only in 2027.

Nike also announced changes to its operating models and a transition to three geographic regions instead of four: the Americas, the Asia-Pacific region, and a combined Europe, Middle East, and Africa region.

This is not the first round of layoffs. The next stage is expected to become part of the policy of saving $2.5 billion by fiscal year 2031.