Brands
Nike’s Converse to cut jobs after revenue takes a sharp tumble
Nike-owned sneaker brand faces shake-up as sales slide 30 per cent worldwide
BOSTON: The iconic sneaker brand Converse, owned by Nike, is preparing for major job cuts after another sharp drop in quarterly revenue, highlighting the pressures facing the label. According to a Bloomberg report, an internal memo from chief executive Aaron Cain told staff that tough decisions were on the horizon, including farewells to colleagues. Cain also signalled that senior executives could be leaving as part of the shake-up.
The move comes after Nike’s latest results showed Converse revenue plunging 30 per cent to $300 million, with sales falling across all regions. The slump marks a continuation of negative growth for the brand.
Converse has increasingly been seen as a weak spot in Nike’s portfolio, even as the parent company pursues a wider turnaround under chief executive Elliott Hill. Nike is working to strengthen wholesale partnerships, boost innovation, and regain growth momentum following uneven demand in recent years.
Nike has been trimming its workforce in stages over the past few years. In August 2025, it cut just under 1 per cent of its corporate staff as part of turnaround efforts, while in February 2024 it announced a 2 per cent reduction, over 1,600 roles. Converse itself had also seen job cuts in May 2024 under Nike’s cost-saving plan.
While Converse contributes just 2.5% of Nike’s total revenue, analysts say its prolonged decline raises questions about the brand’s long-term role. Nike has sold off other acquired labels in the past, such as Cole Haan and Hurley, and some market watchers suggest Converse could be up for sale if recovery efforts fall short.
Nike has not commented on a potential sale, but Hill said the company is resetting the market for Converse under new leadership, hinting at more changes ahead.
The outlook for Converse remains challenging. Whether through restructuring, product innovation, or a future portfolio shuffle, the brand is shaping up as a key test of Nike’s ability to revive growth beyond its flagship line.
