Nike layoffs, on the record
Every job cut, severance charge and restructuring Nike reported in its annual reports, 2023 to 2026, quoted from the filings. Headcount went from approximately 83,700 to approximately 73,000.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2023 | approximately 83,700 | May 31, 2023 |
| 10-K for 2024 | approximately 79,400 | May 31, 2024 |
| 10-K for 2025 | approximately 77,800 | As of May 31, 2025 |
| 10-K for 2026 | approximately 73,000 | May 31, 2026 |
Job cuts, severance and restructuring
Our summaryIn fiscal 2021, the company substantially completed leadership and operating model changes to streamline and speed up its Consumer Direct Acceleration strategy.
Word for word“In fiscal 2021, the Company substantially completed a series of leadership and operating model changes to streamline and speed up the strategic execution of the Consumer Direct Acceleration.” 10-K for 2023
Our summaryFor fiscal 2021, the company recorded employee termination costs in operating overhead expense and cost of sales and made cash payments.
Word for word“For the fiscal year ended May 31, 2021 , the Company recognized employee termination costs of $ 214 million and $ 35 million within Operating overhead expense and Cost of sales, respectively, and made cash payments of $ 212 million.” 10-K for 2023
Our summaryNIKE recorded a restructuring charge to streamline its organization, mainly for employee severance costs and accelerated stock-based compensation expense.
Word for word“Income before income taxes included a restructuring charge of $443 million related to the streamlining of our organization, primarily associated with employee severance costs and accelerated stock-based compensation expense.” 10-K for 2024
Our summaryNike recorded restructuring charges in fiscal 2024 that were not repeated in fiscal 2025, which lowered operating overhead expense in fiscal 2025.
Word for word“Operating overhead expense decreased 7%, due to restructuring charges in the prior year, lower wage-related expenses and lower other administrative costs.” 10-K for 2025
Our summaryThe company recognized $385 million of employee severance charges in fiscal 2026 as part of efforts to operate more efficiently, and said more actions could lead to further charges.
Word for word“In fiscal 2026, we recognized charges of $385 million associated with employee severance costs.” 10-K for 2026
| Fiscal year ended | Severance costs | Restructuring charges | Cash paid for restructuring |
|---|---|---|---|
| 2024-05-31 | — | $443 million | $123 million |
| 2025-05-31 | — | — | $247 million |
| 2026-05-31 | $300 million | — | $142 million |
Nike filed 3 restructuring notices (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Nike’s annual reports (10-K for 2026, 10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-07-15. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.