The company is restructuring its global operations while forecasting another year of declining revenue.
Nike plans to eliminate additional jobs as part of a restructuring intended to reduce costs and accelerate its turnaround.
The company has not disclosed how many positions will be affected. Decisions concerning jobs are expected to begin in 2027, according to reporting on CEO Elliott Hill’s message to employees.
Nike reported quarterly revenue of $11.21 billion, down approximately 4% from a year earlier. Greater China sales fell 26% on a currency-neutral basis, while North American sales rose 2% on the same basis.
The company’s new “Pace” program includes reorganizing into three geographic regions, modernizing its supply chain and establishing a campus in India.
Nike estimates approximately $2.5 billion in cumulative savings through fiscal 2031, before related charges and future reinvestment. It expects about $1 billion in additional pretax costs associated with the program over that period.
Hill said Nike’s performance-sports business is improving, but its sportswear, Jordan brand and Greater China operations require further work.
The company forecasts a high-single-digit revenue decline for fiscal 2027. Its shares fell sharply in after-hours trading following the announcement.
