Nike is accelerating its cost-cutting efforts with additional layoffs as part of a broader restructuring plan aimed at reviving its financial performance amid ongoing challenges. The company has also warned investors to expect a significant decline in revenue this year, signaling deeper struggles in its turnaround strategy. Executives cite persistent market pressures and shifting consumer demand as key factors behind the downturn. Analysts suggest the moves reflect a more aggressive approach to stabilizing operations, though the long-term impact on brand loyalty and workforce morale remains uncertain.
Nike plans more job cuts to boost sputtering turnaround, forecasts steep revenue drop reuters.com
