Nike to cut 1,400 jobs

(CNN)– Some Nike employees will soon be walking out the door for good.

The largest sportswear company in the world announced it will be cutting roughly 1400 positions from its operation division.

Most of the layoffs will be workers in the technology department, according to officials.    

Nike’s CEO released a statement to employees saying the move will help the company run with “more speed, simplicity and precision.”

Analysts say Nike is trying to rebound from a major sales drop where the brand focused more on lifestyle products than its performance shoes and apparel.