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Nike Cuts Jobs as Turnaround Strategy Moves Forward

With an annual dividend yield of 3.67%, NIKE, Inc. (NYSE:NKE) is included among the 10 Best High-Yield Dividend Growth Stocks to Buy Right Now.

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On April 23, CNBC reported that NIKE, Inc. (NYSE:NKE) announced a new round of layoffs, affecting about 1,400 employees across the organization. Most of the cuts are concentrated in its technology department. In a note from COO Venkatesh Alagirisamy, the company said the layoffs are part of its broader “Win Now” turnaround strategy. The plan includes reshaping the technology team, modernizing Air manufacturing, shifting some Converse footwear operations, and integrating materials supply chain work into its footwear and apparel supply chain teams.

A Nike spokesperson said the layoffs are meant to better position the company for the current pace of sports and to support faster growth. The reductions span North America, Asia, and Europe, and account for less than 2% of Nike’s total global workforce.CEO Elliott Hill has been working to turn the business around after a period of weaker sales. There have been some early signs of progress, though not without setbacks.

Earlier this year, Nike announced 775 job cuts in January, mainly at its US-based distribution centers. The company linked those reductions to increased use of automation. At the time, it said the cuts were part of its effort to return to “long-term, profitable growth.”

NIKE, Inc. (NYSE:NKE) designs, markets, and distributes athletic footwear, apparel, equipment, and accessories for sports and fitness. Its operations are organized across North America, Europe, the Middle East & Africa (EMEA), Greater China, and Asia Pacific & Latin America (APLA).

While we acknowledge the risk and potential of NKE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NKE and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Quality Dividend Stocks to Buy According to Reddit and 10 Large-Cap Stocks That Are On Fire Right Now

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The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

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What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

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Dr. Inan Dogan

Dr. Ian Dogan

Co-Founder and Research Director at Insider Monkey

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