Nike has slowed hiring, and expects the slowdown to continue into June

• On a call Tuesday with stock analysts, Nike CFO Matt Friend said Nike recently slowed hiring.
• Friend said the effort started two quarters ago and Nike expects it to continue into the summer.

Nike Chief Financial Officer Matt Friend on Tuesday said the company slowed its hiring efforts two quarters ago, and the company expects the slowdown to continue into the summer.

Friend made the comments on a call with analysts after the company reported sales and earnings well ahead of forecasts. He characterized the hiring slowdown as a way to manage expenses against an uncertain economic backdrop.

"(We) feel very good about the momentum that we've been making with regards to ensuring that our resources are flowing towards the priorities that we have," Friend said.

"And that focus and attention on expense growth, or managing expense growth, and headcount growth, we definitely intend to carry into our next fiscal year," he added.

Nike's next fiscal year starts June 1.

While layoffs have roiled other sectors of the economy of late, including technology, Nike hasn't had large-scale layoffs since 2020.

In February, Nike laid off a handful of employees, including in recruiting, seemingly reflective of reduced demand to hire more workers.

Nike employs 79,100, according to its most recent annual report.