financetom
Business
financetom
/
Business
/
Nike cuts some jobs in technology division
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Nike cuts some jobs in technology division
May 26, 2025 10:36 AM

(Reuters) -Sportswear retailer Nike ( NKE ) is laying off some of its employees in its technology division, a company representative told Reuters on Monday.

Nike ( NKE ) will shift some of that work to third-party vendors, the representative said in an email, adding that the changes were announced last week.

The representative did not specify how many employees were laid off. It is not immediately clear how many people work in Nike's ( NKE ) technology division.

Bloomberg News first reported the development earlier on Monday.

The Air Jordan maker in March forecast a steeper drop in fourth-quarter revenue than analysts had expected, striking a cautious tone as it works to rekindle interest among consumers who have defected to trendier rivals.

Earlier this month, Nike ( NKE ) CEO Elliott Hill made several changes to the senior leadership team. Hill took the helm in October to lead a turnaround at a company that has lately struggled to design new and innovative shoes.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Performance Food Group, US Foods End Merger Talks
Performance Food Group, US Foods End Merger Talks
Nov 24, 2025
06:37 AM EST, 11/24/2025 (MT Newswires) -- Performance Food Group ( PFGC ) announced on Monday that it and US Foods ( USFD ) have agreed to cease sharing information and will no longer explore a potential merger. PFGC reiterated its fiscal Q2 net sales guidance of $16.4 billion to $16.7 billion. It also reaffirmed fiscal 2026 net sales guidance...
Why Is Diginex Stock Soaring Monday?
Why Is Diginex Stock Soaring Monday?
Nov 24, 2025
Diginex Limited ( DGNX ) stock jumped Monday after the sustainability tech firm moved to acquire The Remedy Project, a deal that positions the company at the center of tightening global human-rights rules. The planned acquisition would merge Diginex's ( DGNX ) AI-driven compliance tools with Remedy's on-the-ground grievance and remediation systems, giving enterprises a unified platform to meet fast-approaching...
Italian luxury group Zegna names Tagliabue as new group CEO
Italian luxury group Zegna names Tagliabue as new group CEO
Nov 24, 2025
Nov 24 (Reuters) - Italian luxury group Ermenegildo Zegna ( ZGN ) on Monday named Gianluca Tagliabue as its new CEO, effective January 1. Tagliabue is currently the group's finance chief. The company also named Edoardo and Angelo Zegna, members of the fourth generation of the Zegna family, as co-chief executive officers of the Zegna brand. ...
Revolut valued at $75 billion in latest share sale
Revolut valued at $75 billion in latest share sale
Nov 24, 2025
* London-based Revolut valued at $45 billion last year * Nvidia's ( NVDA ) venture arm, Coatue, Greenoaks, Fidelity among investors * Revolut still waiting for full UK banking licence (Writes through with details of the share sale, context and CEO quote from paragraph 3 onwards) By Tommy Reggiori Wilkes LONDON, Nov 24 (Reuters) - Britain's Revolut said on Monday...
Copyright 2023-2026 - www.financetom.com All Rights Reserved