Nike will cut about 1,400 jobs to make its operations simpler and increase efficiency. These cuts are nearly 2% of its global workforce, mainly affecting technology teams in North America and Europe. This action comes during a difficult time for the sportswear company.

Nike is facing a long period of falling sales and stronger competition from other brands. The company’s value has fallen by more than half in the last three years. Leaders want to focus again on running and football, and speed up new shoe releases.

Nike has also said that sales could drop by 2% to 4% this quarter, with China expected to remain weak. The company plans to join its supply chains and focus its technology in two main centres. This shows global brands must adapt quickly as the market changes.