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 >
Spirit AeroSystems posts wider quarterly loss on rising costs
Spirit AeroSystems posts wider quarterly loss on rising costs
Oct 31, 2025
Oct 31 (Reuters) - Spirit AeroSystems ( SPR ) posted a bigger third-quarter loss on Friday, as the aerospace supplier continues to burn through cash, weighed down by higher costs in its supply chain. The company, which is set to be acquired by its former parent, Boeing ( BA ), is grappling with rising costs that are eating into margins....
Spirit AeroSystems posts wider quarterly loss on rising costs
Spirit AeroSystems posts wider quarterly loss on rising costs
Oct 31, 2025
(Reuters) -Spirit AeroSystems ( SPR ) posted a bigger third-quarter loss on Friday, as the aerospace supplier continues to burn through cash, weighed down by higher costs in its supply chain. The company, which is set to be acquired by its former parent, Boeing ( BA ), is grappling with rising costs that are eating into margins. The EU approved...
Uipath Insider Sold Shares Worth $707,270, According to a Recent SEC Filing
Uipath Insider Sold Shares Worth $707,270, According to a Recent SEC Filing
Oct 31, 2025
05:36 PM EDT, 10/31/2025 (MT Newswires) -- Daniel Dines, 10% Owner, Director, CEO and Chairman, on October 31, 2025, sold 45,000 shares in Uipath ( PATH ) for $707,270. Following the Form 4 filing with the SEC, Dines has control over a total of 29,423,585 Class A common shares of the company, with 29,423,585 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1734722/000185576725000031/xslF345X05/primarydocument.xml...
BRIEF-Nb Bancorp, Inc. And Provident Bancorp, Inc. Announce Confirmation Of Election Deadline For Merger Consideration And Expected Closing Date
BRIEF-Nb Bancorp, Inc. And Provident Bancorp, Inc. Announce Confirmation Of Election Deadline For Merger Consideration And Expected Closing Date
Oct 31, 2025
Oct 31 (Reuters) - NB Bancorp Inc ( NBBK ): * NB BANCORP, INC. ( NBBK ) AND PROVIDENT BANCORP, INC. ( PVBC ) ANNOUNCE CONFIRMATION OF ELECTION DEADLINE FOR MERGER CONSIDERATION AND EXPECTED CLOSING DATE Source text: Further company coverage: ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved