Nike announced it will cut less than 1% of its corporate workforce as part of a business turnaround strategy under new CEO Elliott Hill. The company, which employs nearly 78,000 people worldwide, is focusing on revitalizing its core running shoe and sneaker lines, strengthening retail partnerships, and boosting its physical store presence to remain competitive.

The layoffs are tied to Nike’s plan to reorganize into sport-focused, cross-functional teams aimed at reconnecting with athletes and consumers. Unlike its broader 2% workforce reduction in 2023, this round is smaller and will not affect its EMEA or Converse divisions.

For Canada, these changes highlight the volatility of the global retail and sportswear industry, which faces ongoing demand challenges and supply chain adjustments. While the direct impact on Canadian jobs is unclear, shifts in Nike’s strategy could affect retail partners and the broader consumer market here, especially as the company works to reduce reliance on Chinese manufacturing and navigate shifting trade pressures.

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Reuters’ original article, “Nike to cut corporate jobs amid turnaround effort” was published in CTV News on August 28, 2025. Read the Full CTV News story.