OREGON — Nike closed its tech offices in three locations and suspended operations at Nike Studios facilities in Texas and California. The company is consolidating these operations into its Oregon headquarters and the Nike India Technology Center. These changes are part of a restructuring tied to approximately 1,400 layoffs across Nike's Global Operations team.

The layoffs represent just under 2 percent of Nike's global workforce. In an April 26 note to employees, Chief Operating Officer Venkatesh Alagirisamy said, "We're reshaping our Technology team to sharpen alignment with the business, build leaner teams, and accelerate what matters most."

Nike reported full-year revenues of $46.4 billion, flat on a reported basis and down 2% on a currency-neutral basis. Fourth-quarter revenues totaled $11 billion, a 1% decrease on a reported basis and a 4% decrease on a currency-neutral basis. "We delivered fourth quarter results in line with our expectations, demonstrating financial discipline in an increasingly challenging operating environment, where sell-through remains challenged," CFO Matthew Friend said.

In January, Nike permanently closed its five-story, 55,000-square-foot retail store in New York City, located in the 1853 Prescott House Hotel building. The company has moved its New York City retail operations to a nearby location. CEO Elliott Hill said, "Over time, we will continue to rezone and elevate our fleet and close the doors that are no longer aligned to our strategy."

In 2017, the company began a shift to a direct-to-consumer model that involved reducing retail partnerships with Big 5 Sporting Goods, Dunham's Sports, Urban Outfitters, Dillard's, and Zappos. Nike Studios launched in 2023. The company is now rebuilding retail partnerships, including with Dick's Sporting Goods.