Nike to cut jobs under ‘Pace’ overhaul, but won’t say how many

Nike will eliminate jobs as part of a sweeping restructuring meant to make the sportswear giant “more agile, efficient and athlete-focused,” CEO Elliott Hill told employees Thursday. The company has not said how many positions are at stake.

In a memo to staff, Mr. Hill said the changes “will result in fewer roles across Nike” and acknowledged that such news “creates uncertainty.” Decisions about affected positions will begin in 2027 and continue beyond, he wrote.

Mr. Hill cautioned that media reports on the scope are speculative because the company does not yet know the number of roles or their locations.

The overhaul, called Pace, is expected to deliver about $2.5 billion in cumulative savings through fiscal 2031, according to a filing with the Securities and Exchange Commission. Nike expects roughly $1 billion in pre-tax charges over that period, mostly employee-related costs, with about $300 million of that falling in fiscal 2027. That is in addition to about $300 million of severance costs the company recognized in fiscal 2026.

Under the plan, Nike will reorganize into three regions: the Americas, Asia Pacific and Greater China, and Europe, the Middle East and Africa. The Asia Pacific and Greater China leadership team will be based in Singapore, and some roles that now support the region from Beaverton will move closer to the markets they serve. Teams are expected to shift into the new structure in fiscal 2028.

Nike also will open a new campus in Bengaluru, India, to support work across the Nike, Jordan Brand and Converse businesses, and will speed up modernization of its supply chain.

In a statement to Portland television station KPTV, Nike said it would follow any required consultation with employee representative bodies and would not finalize decisions until those processes are complete.

The announcement came alongside quarterly results showing revenue of $11.2 billion, down 4%. Sales in Greater China fell 26% on a currency-neutral basis. Nike expects fiscal 2027 revenue to decline by a high-single-digit percentage.

The cuts follow an earlier round in April, when Nike said it would eliminate about 1,400 roles, mostly in technology, or just under 2% of its workforce, according to MarketScreener.

Nike said it will share more details at its Investor Day on Nov. 16-17.