Nike Inc., headquartered in Beaverton, Oregon, is set to eliminate 1,400 jobs, which is less than 2% of its global workforce, as part of its ongoing 'Win Now' recovery strategy. The layoffs will predominantly impact technical positions within the company's international operations division, according to Chief Operating Officer Venkatesh Alagirisamy. This restructuring aims to refine Nike's organizational framework and enhance automation. Alagirisamy emphasized the difficulty of these changes for affected employees and their teams. These job cuts follow a previous reduction of corporate headcount by less than 1% earlier this summer, as Nike aims for long-term profitable growth amidst declining revenues, particularly a projected 20% slump in China. Despite these challenges, Nike's stock rose 0.5% in after-hours trading, although shares have dropped 30% this year. Additionally, Nike is in discussions to produce the official match balls for the UEFA Champions League, a move to compete with Adidas AG, which has held this partnership for 25 years.