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Nike / layoffs / earnings

Nike cuts tech roles, continues IT efficiency drive after Finops wins

"The most efficient, data-driven cloud environments in our history"

Edward Targett
By  Edward Targett
Updated / Published 2 min read
Nike cuts tech roles, continues IT efficiency drive after Finops wins
Image credit: https://unsplash.com/@knowbody

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. 

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  • Edward Targett

    Edward Targett

    Ed is a co-founder of The Stack. He previously edited Computer Business Review. He has also covered energy markets. He started his journalism career on local papers. He left school at 15 and has made a living asking "but why?" ever since.