Nike is implementing another round of cost-cutting measures, including job reductions, as the company faces declining sales and a weak outlook. Quarterly revenue fell by 4%, with significant drops in Nike Direct and digital sales. The sportswear giant is also restructuring its operations under a new plan called Pace, aiming for substantial savings by fiscal year 2031. Challenges persist in key markets like Greater China and with the Jordan Brand. The company's stock has seen a significant decrease over the past year, reflecting these ongoing business pressures.
https://www.indiatoday.in/business/story/nike-struggling-sales-decline-layoffs-china-weakness-turnaround-mbappe-left-3007988-2026-10-02