Buy NKE by Apr 26, 2026.

Nike is cutting 775 employees as the company looks to boost its bottom line and accelerate its use of “automation,” CNBC has learned. The layoffs, which are in addition to the 1,000 corporate job cuts the company announced last summer, primarily impact distribution center roles in Tennessee and Mississippi, where the sneaker giant operates large warehouses, people familiar with the matter said. In a statement to CNBC, Nike said the layoffs primarily affect its U.S. distribution operations and are designed …