Nike Inc. is set to lay off 1,400 employees as part of its ongoing restructuring efforts aimed at simplifying operations and enhancing efficiency. The job cuts will primarily impact the global operations team, particularly in technology roles, and will affect workers across North America, Asia, and Europe, accounting for nearly 2% of the company's global workforce. Chief Operating Officer Venkatesh Alagirisamy emphasized that these changes are intended to streamline operations and improve responsiveness. This move follows earlier layoffs and an automation push, as Nike seeks to adapt to a challenging market landscape characterized by declining sales and increased competition from brands like On, Hoka, and Anta. The company anticipates a 2% to 4% decline in sales this quarter, with a notable 20% drop expected in its crucial Chinese market.