Story perspectives

Nike Cuts 1,400 Jobs Amid 34% Income Drop

4/25/2026

Summary

Nike Cuts Jobs

Nike will cut about 1,400 jobs, completing the “Win Now” plan, according to executive Venkatesh Alagirisamy.
The layoffs target the Global Operations technology function, shifting work to Nike’s Beaverton, Oregon campus and the India Technology Center, adjusting staff at Air Manufacturing Innovation facilities and moving Converse resources nearer factory partners.
In the February 28 quarter, Nike posted $11.279 billion in sales, a 34% net-income decline and Converse revenue of $264 million, down 35%.

Summary

Nike Eyes Champions

Nike is in talks to supply UEFA’s men’s Champions League balls from 2027 to 2031.
The deal would pit Nike against Adidas, which has held the contract for 25 years.
Analysts forecast a 2%-4% revenue drop this quarter and a roughly 20% fall in China sales.
The Vomero 18 shoe generated $100 million in sales within three months, a rare success amid broader weakness.

History

Historical Context

Adidas secured a UEFA Champions League ball contract in 1998 that has run continuously, later valued at €1 billion for the 2015-2020 period, cementing its revenue stream through 2023. Facing that legacy, Nike announced in 2024 a 1,400-job reduction while targeting the 2027-31 ball rights, a move that could shift sponsorship profits away from Adidas.

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Nike Cuts Jobs

Nike will cut about 1,400 jobs, completing the “Win Now” plan, according to executive Venkatesh Alagirisamy.
The layoffs target the Global Operations technology function, shifting work to Nike’s Beaverton, Oregon campus and the India Technology Center, adjusting staff at Air Manufacturing Innovation facilities and moving Converse resources nearer factory partners.
In the February 28 quarter, Nike posted $11.279 billion in sales, a 34% net-income decline and Converse revenue of $264 million, down 35%.

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