Share to ClassroomNike to Cut Jobs, Sales Fall
Nike is the biggest sportswear company in the world. Now it plans to cut more jobs. Nike thinks its sales will fall more than expected this year. In the last three months, it sold $11.2billion of products. That was a little less than experts expected. Nike will tell workers about the job cuts in 2027.
Nike's problems started a few years ago. The company is now worth much less than five years ago. An expert says Nike made some mistakes. It sold more things online and less in shops. It also made fewer new products. In China, its sales fell by 26%.
The boss, Elliott Hill, wants Nike to focus on sports like running again. He says there is more work to do. Two famous football players also left Nike for other brands. The expert thinks things will start to get better next year.
