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Story summary
- Nike CEO Elliott Hill announced the company will cut headcount starting in 2027.
- Nike reported a 2% profit decline and a 4% revenue drop in its first quarter.
- Nike shares have fallen about 46% year-to-date as the firm pursues a turnaround.
- Employment lawyer Kevin Zwetsch warned early notices may trigger voluntary quits to avoid severance.
- Organizational psychologist Katrina Monton said prolonged uncertainty can cause stress, exhaustion and lower engagement.