Nike president and chief executive officer Elliott Hill hoped to qualm fears among employees bracing for more layoffs in a new memo published online on Thursday. In the letter to employees, Hill announced changes to Nike’s operating model that will help “accelerate and scale” the “Sport Offense” strategy and position the Swoosh for long-term growth. The new plan, dubbed “Pace,” includes efforts to modernize Nike’s global supply chain, the establishment of a new campus in India to fuel its enterprise capabilities, a realignment to three geographies, and further streamlining of the organization to reduce costs. “This work will result in fewer roles across Nike, and I want to acknowledge that news like this creates uncertainty,” Hill admitted in the memo. “I don’t take that lightly. Throughout this process, we will communicate directly, act with transparency and treat people with respect.” Decisions about impacted roles related to this work will begin in calendar year 2027 and beyond, the CEO said. “For most teammates, the work immediately in front of you remains the same,” Hill said. “We have shared some financial information, but these numbers are estimates and could materially change. Anything you may see in media reports around impacts is speculative because we do not yet
Follow Footwear News on Twitter or become a fan on Facebook.