Nike cuts tech roles, continues IT efficiency drive after Finops wins
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Nike, which let go of its Chief Technology Officer in January and said its new COO would lead IT instead, will continue to “optimize our workforce and rationalize programs” after making a wave of tech layoffs this quarter.
That’s according to CFO Matthew Friend on an earnings call late Thursday.
Nike took a $230 million hit for severance costs “primarily in supply chain and technology” over the past 12 weeks he added, as it trims tech staff - many of whom could be seen taking to LinkedIn to look for fresh roles.
The comments come after extensive efforts across Nike to slash out-of-control cloud costs and improve performance across engineering.