Nike Plans More Layoffs as China Sales Plunge
Nike plans job cuts from 2027 as Greater China sales fall 22%, deepening a restructuring aimed at reducing costs and rebuilding its marketplace.
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Nike plans job cuts from 2027 as Greater China sales fall 22%, deepening a restructuring aimed at reducing costs and rebuilding its marketplace.
Nike shares fell about 5% after its results, extending a slide to 13-year lows as a revenue miss and weak annual outlook overshadowed an earnings beat.
Nike will leave the S&P 100 after roughly 18 years as its shares trade nearly 80% below their record high.