Nike is set to reduce its global workforce as part of a comprehensive restructuring initiative aimed at enhancing operational efficiency and strengthening its focus on athletes and consumers. The announcement was made by CEO Elliott Hill in a memo to employees, outlining a strategic overhaul designed to position the company for sustained long-term growth.
The restructuring, internally dubbed “Pace,” will streamline Nike’s organizational structure by consolidating operations into three geographic regions and establishing a new campus in Bengaluru, India. Additionally, leadership teams for the Asia Pacific and Greater China markets will be based in Singapore, bringing decision-making closer to key consumer bases. These transitions are scheduled to commence in fiscal 2028.
“Throughout this process, we will communicate directly, act with transparency and treat people with respect,” Hill emphasized in his memo, acknowledging the uncertainty such changes may bring to employees.
While specific numbers were not disclosed, Hill indicated that job eliminations will occur gradually, with initial decisions expected to begin in 2027. The company also confirmed that consultations with employee representative bodies will precede any final decisions where legally required.
The restructuring follows a challenging period for Nike, marked by a significant drop in stock value and underwhelming performance in key markets—particularly China, where revenue declined 26% on a constant-currency basis in the most recent quarter. By focusing on product innovation, brand storytelling, and deeper consumer engagement, Nike aims to reinvigorate its market position.
Nike projects that the Pace initiative will yield approximately $2.5 billion in savings through fiscal 2031, with the majority of benefits anticipated in fiscal years 2029 and 2030. More detailed information regarding the restructuring is expected to be shared during Nike’s Investor Day on November 16–17.
Earlier this year, in April, Nike announced plans to cut around 1,400 roles within its Global Operations division, primarily impacting the technology sector across North America, Asia, and Europe—representing nearly 2% of its worldwide workforce at the time.