Sportswear giant Nike is laying off a number of employees, according to new reports.
Nike is understood to be slashing a number of jobs in the latest round of redundancies at the sports giant, as first reported by Bloomberg.
A Nike spokesperson confirmed the job cuts yesterday and said the business is laying off employees in its technology division.
It remains unclear how many employees are impacted by the job cuts and the spokesperson added that Nike will “shift some of that work to third-party vendors”. It also remains unclear the total number of staff currently working within Nike’s technology department.
The news comes after Nike reported a 9% decline in revenues during its third quarter to $11.3bn (£8.46bn).
Nike also wanred that tariffs are likely to have an impact on fourth quarter sales, up to a “mid teen” decline.
Earlier this month Nike boss Elliott Hill made a number of changes to Nike’s senior leadership team after taking the helm in October to lead the company’s turnaround.
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