Nike prepares layoffs of 1% of entire corporate staff in efforts to "refocus the business".
CEO Elliott Hill wants to get the company "back into growth", and apparently the way to do that is to fire 1% of the staff, or about 800 employees.
https://www.cnbc.com/2025/08/28/nike-to-lay...
Nike
NKE
NYSE
IPO1980
about NKE
Nike designs and manufactures apparel, footwear, and accessories for sports and fitness, catering to athletes and everyday consumers worldwide.
| type | open | high | low |
market cap |
volume |
|---|---|---|---|---|---|
| stock | $69.38 | $69.44 | $68.03 | $102.26B | 15.64M |
| eps |
price to earnings |
price to sales |
operating margin |
profit margin |
yield |
| +$0.54 | 24.87 | 9.12 | 7.49% | 7.05% | 2.31% |
Greatest headline for this clown market ...
"Nike stock surges as company forecasts smaller sales, profit drops while tariff costs near $1 billion"
https://finance.yahoo.com/news/nike-stock-s...
I guess things aren't _as bad_ as expected, and so the stock can rally a bit after some dreadful performance during the worst of the tariff talks.