NIKE, Inc. Class B (NKE.US) is restructuring its technology department and laying off some employees.

NIKE, Inc. Class B (NKE.US) is downsizing its technology department and laying off some employees. According to sources, employees in the strategic enterprise and corporate functions departments (which help manage business processes) of this global sportswear retailer have been affected by the layoffs. One source mentioned that NIKE, Inc. Class B is outsourcing some related work to third-party suppliers. Since returning in October last year and taking on the role of CEO of NIKE, Inc. Class B, Elliott Hill has made several adjustments to the company's senior organizational structure. He has appointed new leaders for departments such as strategy, human resources, and sports marketing. Currently, former Amazon.com, Inc. executive Muge Dogan remains the Chief Technology Officer of NIKE, Inc. Class B. Elliott Hill is working to drive a rebound in NIKE, Inc. Class B's business. Previously, the company under the previous management team relied too heavily on lifestyle products, leading to a decline in sales and a distancing from retail partners. While NIKE, Inc. Class B is trying to recover growth by refocusing on sports products and wholesale channels, this strategy is complicated by the impact of the trade war initiated by US President Trump and the unbalanced spending of US consumers. As of the close of this past Monday, NIKE, Inc. Class B's stock price has fallen 18% year-to-date, well below the 1.4% increase in the Standard & Poor's 500 Index.