Nike Announces Fresh Job Cuts as Sales Slump and China Woes Deepen

Globo

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Nike in Beijing, China REUTERS/Tingshu Wang Nike is deepening its restructuring under the leadership of Executive President Elliott Hill. Given the worsening difficulties in China, the company announced a plan to cut more jobs and reorganize its global business divisions, after projecting a sharper fall than expected in annual revenue.Does it have any reporting suggestion? Send to g1 The forecast released on Thursday (1st) indicates that Nike's …

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Nike has used the world to believe that there are no limits. Now, she is the giant of sports articles herself who is blocking: she prepares new job cuts and predicts that revenues will fall between 7% and 9% in the next exercise, in a new sign of the difficulties she faces to regain the strength of the brand.

BNR Nieuwsradio

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Nike will cut jobs starting next year. The sports brand wants to reorganize due to disappointing sales, particularly in China. This is evident from the quarterly figures the company published on Thursday evening. It is not yet known how many jobs will be lost.

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Nike is preparing a new round of job cuts while trying to recover the company's growth rate. The US giant also foresees a sharp drop in revenue in the fiscal year of 2027, amidst the difficulties faced mainly in the Chinese market.The company released the new projections on Thursday, 1, along with changes in the structure of its business.The forecast made Nike's shares fall 8.5% back on the extended edge.Sales in China take offOne of the main ob…