BEAVERTON, Oregon: Nike said it will trim fewer than one percent of its corporate workforce, a modest round of cuts that comes as the sportswear giant works to reset its business strategy under new CEO Elliott Hill.

The job reductions are part of a broader turnaround plan focused on sharpening Nike's product lineup and strengthening ties with retailers. Hill, who took over leadership earlier this year, has emphasized reinvesting in running and sneaker lines where the company has lost ground, while also expanding Nike's presence in physical stores to better compete in a crowded market.

As of May 31, Nike employed about 77,800 people globally, including retail and part-time staff. The company did not specify the number of roles affected, but confirmed the layoffs will not touch its Europe, Middle East and Africa (EMEA) region or its Converse subsidiary. CNBC earlier reported that the scale of the cuts remained unclear.

Hill has framed the restructuring as part of his plan to realign Nike into cross-functional teams organized by sport. "This new formation is built to put sport and sport culture back at the center, to connect more deeply with the athlete and the consumer," Nike said in a statement.

The announcement follows larger cuts made last year, when Nike eliminated about two percent of its workforce—more than 1,600 jobs—as it sought to rein in expenses amid softer demand.

Nike has also taken steps to adapt to shifting global trade dynamics. In June, the company said it would reduce its reliance on production in China for the U.S. market, aiming to limit the impact of import tariffs. That update came alongside a forecast for a smaller-than-expected decline in first-quarter revenue.