Nike recently announced another round of multiyear layoffs as part of its cost-cutting strategy across its European headquarters in Hilversum, Netherlands, which employs over 2,000 workers.

As part of its global cost-cutting strategy, the company is laying off 2 per cent of its workforce to save $2 billion. Earlier this year, the company laid off around 750 employees at its Beaverton, Oregon headquarters, in addition to layoffs at its subsidiary in Boston.

In an internal memo to all employees, John Donahoe, CEO of Nike, stated that Layoffs across the Europe, the Middle East, and Africa would follow a different timeline than the company's home market of North America, where staff reductions occurred in two phases earlier this year, starting in February. Layoffs in Europe began more recently due to local labour laws. Last year, the Europe, Middle East, and Africa region accounted for approximately $13.4 billion, which is 26 per cent of Nike's global sales.

A spokesperson told a renowned media channel, “The actions we’re taking put us in the position to right-size our organisation to pursue our biggest growth opportunities as interest in sport, health, and wellness have never been stronger.”

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With the strategic layoffs, Nike also plans to streamline its European operations as part of the company's broader strategy to optimise its global workforce and align resources with its most significant growth opportunities, reflecting the intensifying competition and evolving consumer preferences in the sportswear industry.