Brief

Nike forecasts steep revenue drop and announces further job cuts

The sportswear giant warned of a high‑single‑digit revenue fall and said it will begin notifying employees of additional cuts in 2027.

By Felo News Desk · Published Fri, 02 Oct 2026 05:27:05 GMT

Nike announced on Thursday that it expects revenue to decline in the high‑single‑digit range for fiscal 2027 and that the company will extend its restructuring plan with further job cuts, according to a report by the New York Post.

What happened

The company, led by CEO Elliott Hill, revealed a revised full‑year revenue outlook that is lower than previously projected. It also said it will reshape its operating model, moving from four geographic divisions to three – Americas, Asia Pacific & Greater China, and EMEA – and will open a new campus in India. Nike did not disclose the exact number of positions to be eliminated, but said notifications will start in 2027.

What the report adds

The Post noted that Nike’s shares fell 4% in extended trading after the announcement. It highlighted that the forecast follows a first‑quarter revenue miss and a 26% tumble in China sales on a constant‑currency basis. The article also cited analysts’ view that Nike’s struggles stem from an insufficient pipeline of new products, leading to higher promotions and discounts.

What was said

The outlet quoted Nike’s statement that the restructuring program is expected to generate about $2.5 billion in savings through fiscal 2031.

How it came about

Nike has been trying to revive growth during Hill’s two‑year tenure by focusing on core sports such as running and rebuilding wholesale relationships. The latest forecast underscores ongoing challenges, particularly in China, that have persisted for several quarters.

Key facts

• Nike expects revenue to decline in the high‑single‑digit range for fiscal 2027. (nypost.com)
• The company will begin notifying employees of additional job cuts in 2027. (nypost.com)
• Nike’s shares fell 4% in extended trading after the announcement. (nypost.com)

Sources

• [1] nypost.com — originally reported as “Nike issues bleak forecast, plans to slash more jobs after sales disappoint”