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The Markets
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Nike reportedly trims tech staff as part of broader restructuring effort

Nike Inc (NYSE:NKE, ETR:NKE) has begun cutting jobs in its technology division, with some roles being outsourced to external vendors.

The move, first reported by Bloomberg, is part of a wider restructuring as Nike seeks to revive sales and sharpen its digital operations.

The company has been under pressure in recent months, warning in March of a sharper-than-expected drop in fourth-quarter revenue.

Nike has also faced growing competition from newer, more fashion-forward brands, prompting changes at the top.

Chief executive Elliott Hill, who stepped into the role in October, recently overhauled the leadership team in a bid to reinvigorate product design and restore momentum.

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