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Nike is downsizing its technology division and laying off some of its employees, according to Bloomberg News.
A representative from the retailer explained that the company is set to move some of its work in its technology arm to third-party vendors.
However, it was not specified how many employees are going to be laid off and it’s not clear how many many people work in Nike’s technology division.
The announcement comes as earlier this month CEO Elliott Hill made several changes to the senior leadership team.
In March, Nike reported a 9% decline in third-quarter sales for fiscal 2025, with revenue falling to £9.1bn ($11.3bn) from £10.1bn ($12.4bn) the previous year. When adjusted for currency fluctuations, the decrease was slightly less at 7%.
The figures reflect ongoing challenges for the sportswear giant, driven by weak consumer demand and sales drops in several major markets.
Nike has been contacted for comment.
