# Nike (NKE) stock inched up on Friday morning after the footwear giant announced its second round of layoffs, affecting roughly 1,400 employees.

*business · news · 2026-04-24 · Barchart*

## Key points

- Nike announced a second round of layoffs affecting approximately 1,400 employees, mainly in tech and operations.
- Nike's price-to-sales multiple is at a historic low of 1.46x, indicating a discounted valuation.
- Insider buying, including from CEO Elliott Hill, has increased recently, reflecting internal confidence in recovery.
- Nike's latest quarterly earnings and revenue both exceeded analyst expectations.

**Companies:** Nike

[Read the full story on Barchart](https://www.barchart.com/story/news/1507150/as-nike-announces-second-round-of-layoffs-is-nke-stock-a-buy-sell-or-hold)

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