---
schema_version: "secwatch.filing_event.v1"
accession: "0000320187-23-000054"
form_type: "8-K"
ticker: "NKE"
cik: "0000320187"
company_name: "NIKE, Inc."
filed_at: "2023-12-21T23:59:59+00:00"
generated_at: "2026-06-07T09:31:58.694183+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "low"
source: SEC EDGAR
---

# Nike announces $2B cost savings plan and $400-450M restructuring charges

## Summary
- Enterprise initiative targets up to $2B in cumulative cost savings over three years; includes simplifying product assortment and increasing automation.
- Pre-tax restructuring charges of $400M-$450M for employee severance; to be recognized in Q3 FY2024 and substantially completed by end of fiscal 2024.
- Fiscal Q2 2024 financial results released on December 21, 2023; specific figures not available in this filing.

## SEC filing metadata
- accession: 0000320187-23-000054
- form_type: 8-K
- ticker: NKE
- cik: 0000320187
- company_name: NIKE, Inc.
- filed_at: 2023-12-21T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: low
- sec_items: 2.02, 2.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/320187/000032018723000054/0000320187-23-000054-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/320187/000032018723000054/nke-20231221.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000320187-23-000054
- JSON: https://secwatch.observer/filing/0000320187-23-000054.json
- Plain text: https://secwatch.observer/filing/0000320187-23-000054.txt

## Key facts
- Earnings Releases
  NIKE, Inc. reported financial results for fiscal quarter ended November 30, 2023.
  - Period: fiscal quarter ended November 30, 2023
  - Result: reported results
  source text: Today NIKE, Inc. (the “Company”) issued a press release disclosing financial results for the fiscal quarter ended November 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/320187/000032018723000054/0000320187-23-000054-index.htm
- Restructurings & Charges
  NIKE, Inc. announced a restructuring with charges of approximately $400 million to $450 million affecting the organization.
  - Type: restructuring
  - Charge: approximately $400 million to $450 million
  - Affected area: the organization
  source text: on December 21, 2023, the Audit and Finance Committee of the Board of Directors of the Company approved steps to streamline the organization, which are expected to result in restructuring charges of approximately $400 million to $450 million, primarily associated with employee severance costs
  evidence_url: https://www.sec.gov/Archives/edgar/data/320187/000032018723000054/0000320187-23-000054-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.