Nike Plans More Job Cuts to Boost Sputtering Turnaround
The company expects about $2.5 billion in savings through fiscal 2031 as it shifts to three regions and tightens control over China sales.
9 Articles
9 Articles
Nike plans more job cuts to boost sputtering turnaround
Nike is deepening its restructuring under CEO Elliott Hill as its woes in China intensify, announcing a plan to cut more jobs and shake up its global business divisions after the sportswear giant projected a surprisingly steep drop in full-year revenue.
While announcing the restructuring plan, Nike announced a power adjustment and predicted that its earnings would be accompanied by a sharp decline in fiscal 2027.
Nike Stock at $32: China Down 26%, Bull $44, Bear $30
Updated 2 October 2026. Nike (NKE) closed at $35.15 on Thursday 1 October and traded at $32.09 in after-hours dealing, down 8.71 percent, after its fiscal first-quarter report (StockAnalysis quote data, 7:59 pm ET). Verdict: the quarter itself was close to expectations - revenue of $11.2 billion, earnings of $0.48 a share. The damage came from the outlook. Nike told investors full-year revenue will fall by a high-single-digit percentage and guid…
Nike has a problem today where not so long ago it had one of the most important engines...
Coverage Details
Bias Distribution
- 75% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
