Nike cut jobs and plans a new Bengaluru campus after reporting a 2% decline in quarterly profits to $712 million for the quarter ending 31 Aug 2026. The announcement came during a conference call where CEO Elliot Hill outlined a 2027‑onward restructuring that will ripple across the company.
The company’s revenue for the first quarter of fiscal 2027 fell 4% to $11.2 billion, a sharp contrast to the 2% rise seen in North America. In every other region, sales slipped, with Greater China experiencing a 22% plunge to $1.2 billion, underscoring a loss of momentum in key markets.
Hill, who returned as CEO in October 2024, stressed that the organisation must become more agile and athlete‑focused. He said the restructuring would create “fewer roles” across the firm, with decisions on impacted positions slated to start in calendar year 2027.
Analyst Neil Saunders of GlobalData warned that Nike’s brand heat is fading and that the projected sales decline could be “shabby.” He added that the company’s move to a new campus in Bengaluru represents a long‑term investment to strengthen global talent, but the immediate cuts signal a painful adjustment period for the iconic sportswear titan.