Nike slashes 775 jobs in US to speed up automation, boost profit

January 26, 2026

Nike is laying off 775 employees, a source familiar with the matter told Reuters on Monday, as ​the sportswear giant looks to boost profits and accelerate its use of automation.

The ‌cuts will primarily impact distribution center roles in Tennessee and Mississippi, where the sneaker giant operates large warehouses, ‌the person said.

Nike, whose business is struggling, is trying to reestablish itself as the world’s leading sportswear brand after losing market share to rivals. It has undergone several rounds of layoffs in recent years.

In August, it cut a little less than 1% of its corporate workforce as ⁠part of its turnaround efforts ‌under CEO Elliott Hill, who took over the top job in 2024. yahoo!Finance