I’m new, when do we typically find out?
This has been such a sh-t year, the least they can do is give us a decent bonus.
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At Nike’s scale it’s easy to borrow from tomorrow to pay for today.
Debt per share is going up every year. We’re well past the covid loan craziness why are we still taking on debt? And that’s not even accounting for what all these discounts are doing to our brand name’s value. JC Penny here we come!
It's been a s%$t year in terms of layoffs, uninspiring leadership, and employee fears for the future. However, Nike as a company continues to bring in record revenues and profit margin in FY24. That's why there is such a disconnect. The company is growing and doing financially great, but people are being cut indiscriminantly in the name of restructuring and cost cutting for the future when it's not clear that it's necessary, well directed, or that the company leadership is truly accountable. Most don't trust the ELT because they come across as insincere, disconnected from reality, and incapable of talking in a straightforward manner. Meanwhile, many essential high performers were already laid off this year, more rounds of cuts are coming, and nobody knows if the changes are actually going to lead to new innovation. Cynics among us tend to believe that the ELT is just looking out for their own compensation by manipulating the numbers, and those rank and file employees that are still here (and responsible for actually getting work done) want to be rewarded for dealing with the BS by getting a decent bonus as well. Unfortunately, as is common with this current leadership team, there is a complete lack of clarity on how the PSP is calculated, so everyone assumes we're going to get sc--wed.
It's been a s%$t year, but give me a bonus. Yes, this is how business works.
On track for “a PSP”… totally vague. 5%? 100%?
What are the chances that they
- Reduce the scope of the layoff
- Shaft the upcoming non-management layoffees with peanuts
I know what I’m going to bet my pound of flesh on
After the prior earnings call an email was sent saying we are tracking to PSP, I would assuming another email will be sent out this time to give us an update on how it’s looking. Also wasn’t the total restricting $400-$450mil? So if we already spent $340m of it doesn’t that mean this round will be smaller if they are still focusing on management layers? Especially since many parts of Nike weren’t even touched in the first round?
Youre not getting an announcement, because we aren't getting a PSP. This would've been discussed by now.
Next PSP announcement will be in June '25
You won’t know for sure until Q4 earnings are announced. Don’t get your hopes up and you won’t be disappointed.
The PSP payout is announced in tandem with Q4 earnings