Nike plans more job cuts to boost sputtering turnaround, forecasts steep revenue drop

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  "signal_type": "news",
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  "detected_at": "2026-10-01T22:47:00+00:00",
  "company": {
    "name": "Nike",
    "domain": "nike.com"
  },
  "data": {
    "url": "https://www.channelnewsasia.com/business/nike-plans-more-job-cuts-boost-sputtering-turnaround-forecasts-steep-revenue-drop-6425411",
    "title": "Nike plans more job cuts to boost sputtering turnaround, forecasts steep revenue drop - CNA",
    "excerpt": "Business People walk past a Nike store in New York City, US, Apr 2, 2025. (File photo: Reuters/Kylie Cooper) Nike is deepening its restructuring under CEO Elliott Hill as its woes in China intensify, announcing a plan to cut more jobs and shake up its global business divisions after the sportswear giant projected a surprisingly steep drop in full-year revenue. The tepid forecast on Thursday (Oct 1) underscored that Nike's challenges will likely persist for at least several more quarters - especially in China, where sales tumbled 26 per cent on a constant-currency basis in the first quarter - adding to investor unease about the pace of Hill's turnaround. Its shares fell 8.5 per cent in extended trading. The company has been working to revive growth during the first two years of Hill's tenure by refocusing on key sports such as running and by rebuilding relationships with wholesale retailers. But analysts say its worries have in large part stemmed from a failure to release enough new, compelling products, leading to an uptick in promotions and discounts. \"Our Nike performance business is not yet large enough to offset the pressure we're seeing in Nike sportswear, Jordan brand, and Greater China,\" Hill said on a post-earnings call. Reviving those weak areas of Nike's business \"will take time\", he said, pointing to a deliberate reduction in the volume of Jordan retro launches. The...",
    "summary": "Nike plans to open a new campus in India.",
    "location": "India",
    "planning": true,
    "image_url": "https://dam.mediacorp.sg/image/upload/s--NaVsvwEW--/c_fill,g_auto,h_676,w_1200/fl_relative,g_south_east,l_mediacorp:cna:watermark:2024-04:reuters_1,w_0.1/f_auto,q_auto/v1/one-cms/core/2026-10-01T205007Z_1_LYNXMPEM9043G_RTROPTP_3_NIKE-RESULTS.JPG?itok=YVTmRgmh",
    "confidence": 0.9,
    "published_at": "2026-10-01T22:47:00Z",
    "location_data": [
      {
        "region": "Southern Asia",
        "country": "India",
        "continent": "Asia",
        "fuzzy_match": false
      }
    ],
    "article_sentence": "It plans to open a new campus in India \"with strong capabilities and access to talent\"."
  }
}

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  -d '{"domain":"nike.com","limit":20}'