Nike Lays Off 1,400 Employees Amid Sales Slowdown

Sportswear giant Nike has decided to lay off approximately 1,400 employees in response to a global sales slowdown. The company stated that this step is aimed at reducing costs and improving operational efficiency. The cuts are expected to be concentrated particularly in management and administrative positions. Nike's move comes at a time when it is grappling with weakening demand and rising inventory levels in recent quarters. The company had revised its sales targets due to shifts in consumer spending post-pandemic and intensifying competition. The layoffs represent about 2% of Nike's total workforce. Analysts emphasize that such a restructuring could support Nike's short-term profitability, but innovation and marketing spending must be maintained for long-term growth. The company also announced that it will continue to invest in digital transformation and direct-to-consumer sales channels. Nike shares experienced a slight decline in pre-market trading following the news. Investors are closely monitoring the company's upcoming financial results and growth strategies. This is not investment advice.