Nike Inc. announced on Thursday that it is cutting 1,400 roles, representing less than 2% of its total workforce. The move is part of an effort to get the sporting-goods company's turnaround plan back on track.
The layoffs primarily affect employees in the company's technology department. This marks the second round of job cuts this year, following the reduction of 775 positions in January.
The workforce reductions come as Nike attempts to reverse a yearslong sales slump. The athletic giant has seen its sales decline as nimbler competitors, including On, Hoka, and Anta, have overtaken it.