ByMARTHA WILLIAMS, US REAL ESTATE & CONSUMER REPORTER
Updated:16:55 EDT, 23 April 2026
Retail giant Nike has announced afresh wave of job cuts, slashing around 1,400 roles on Thursday in a move set to send shockwaves through its workforce.
The latest layoffs - which are understood to fall heavily on its technology division - come as the sportswear behemoth pushes ahead with a major overhaul aimed at sharpening its competitive edge.
Bosses insist the cuts form part of its aggressive 'Win Now' strategy, designed to streamline operations and position the company for future growth in an increasingly challenging retail landscape.
But the move will raise fresh concerns for staff, coming just months after Nikeaxed a further 775 rolesback in January - bringing the total number of jobs lost this year to more than 2,000.
In a stark internal memo, Nike laid bare the scale of its sweeping shake-up, as senior executives moved to reassure staff amid a fresh round of brutal cuts.
Nike shareshit an 11-year lowon April 13, capping a brutal stretch that has seen the company lose around 75 percent of its value since shares peaked in 2021.
It is now worth about $70 billion - a third of the value of TJ Maxx.
Its stock has slightly recovered in recent days, and jumped in after hours trading on news of the job cuts - which Wall Street sees as a cost cutting measure to boost profits.
Source: Drudge Report
