Nike Narrows Tech Team Amid Strategic Shift
U.S.-based sportswear giant Nike has laid off a number of employees from its technology division, a spokesperson for the company confirmed in an email to Reuters on Monday, according to a Reuters report.
The Nike spokesperson stated that certain technology-related functions will now be handled by third-party vendors.
However, the company did not specify the exact number of employees affected by the layoffs.
In March, Nike issued a warning about a larger-than-expected decline in revenue for the fourth quarter and adopted a cautious approach aimed at reviving consumer interest. Earlier this month, the company’s new CEO, Elliott Hill, initiated changes in the senior leadership team as part of ongoing restructuring efforts. Hill took over the role in October and has since been leading the transformation process.
