Nike‑owned Converse is cutting jobs and reorganizing its teams, according to a Bloomberg‑reported memo that was released on Monday, February 9, 2026. Employees were instructed to work from home this week as the brand implements the restructuring to recapture sales growth.
The move is part of Nike’s broader turnaround strategy under CEO Elliott Hill, which has focused on restoring relationships with retail partners and refocusing on core sports performance. While the layoffs signal cost‑cutting, they also highlight ongoing challenges within the Converse brand, which has seen declining revenue and market share in recent quarters.
The announcement underscores the volatility within Nike’s portfolio and may impact the company’s operating expenses and brand equity. Investors will watch how the restructuring affects Converse’s performance and whether it signals a deeper shift in Nike’s brand strategy.
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