Thread regarding Nike Inc. layoffs

To backup the comments about Cost Of Living. Nike is bogus to claim they pay this annuually. The cost of living has been rising more than the 1-3% offered through 2019. HR when asked claimed they do pay COL. All it took was simple google of State of Oregon to prove HR Nike wrong.
Lets also mention Oregon Unemployment is a mess but who gives a _rap for employees who put in ALL the work to boost profits. And having to navigate the Unemployment system in OR will s_ck for those who need it. Sorry leadership blow smoke, push paper and sit on your thrones.

@5sxc, LOVE it. Cheers. I do not not you but I LIKE you a lot :-)

@5iuv

Kinda too late. They know they have your nuts in a vice given the current state of our economy, especially in a place like the Portland Metro Area. Not to mention, how many Nike employees have faced the realization that the only "skills" they have at this point are "how to work at Nike"?

So are you still against a Union?

@4xgo - I understand employees only received PSP so JD could claim his pre-determined bonus/compensation... he could argue that the business results were down due to COVID - which was not his fault. But he couldn’t claim his trucks of money, and not allow PSP to the mortals....

quoting from the bottom of Page 43... I'm not taking any side here, just reading the fine print.. for PSP in section (1) under the table of salaries.

Due to the impact of COVID19 on our incentive plans, the executive officers received 0% payouts under each of the fiscal 2020 PSP and fiscal 2018-2020 LTIP

Just take a look at MP and JD's stock options. Wealth disparity anyone? Something is seriously wrong when you have 2 people sitting on >$350M of vested options and locking up >$50M in your first 6 months, respectively, all while having layoffs/not offering merit increases/having the worst quarter in YEARS.

I do not care at all how much or how often they, the executives, get paid as long as the employees are in fact also getting what is rightfully theirs such as a cost of living increase, which was not given this year. It is from that perspective that I am disgusted by the ELTs compensation. I do not envy people - that is not who I am - but I do want equality and fairness. Nike does not care about the employees and that too is obvious.

This is outrageous! Reading the proxy makes me sick. Our head of comp and HR should be ashamed of themselves for trying to keep their own jobs safe by supporting an increase in exec comp while no one else in the company gets a cost of living adjustment and hundreds upon hundreds are losing their jobs. This is when you need execs to demonstrate “do the right thing” and “win as a team.” Instead, we now have an embarrassing story of greedy executives with pay ratios that are WAY too high and continue to increase.

I see nothing in that proxy document that suggests they got raises in FY21...in fact there’s no mention of FY21 on the “executive compensation” page.

F— Nike and f— all its ELTs.

How/why the fart did HR’s MM receive $5.9 million in compensation for 2020?

There are ways for workers to deal with obvious corruption in management. It's just a shame that from what I've been reading in these posts most Nike employees seem content just to gripe online. Organize yourselves, make demands, and put your hands in your pockets if they aren't taken seriously.

In the six months that we have worked from home my electric bill in a studio apartment has gone up 100 dollars a month (this was before ac needed to be turned on). My bill so far is 600 dollars. My manager said that I would not be compensated for this extra cost. You are telling me that this giant company can afford millions to millionaires but not basic necessities to its employees who are doing work under difficult circumstances?

I've seen this at a previous company I worked for. The fix is definitely in and it's just one big cash grab for the Million Dollar Crew (and their friends who will soon come to hit the piñata and book it from Nike with their millions).

If you're not a part of that crew you may as well not exist at Nike.

This makes me so angry that none of what I am sputtering under my breath is publishable. What happened to "servant leadership", JD? A cool $1M apiece when none of your employees you so smugly refer to as 'family' got a raise this year? WTF. Hope you arrogant, greedy, mendacious a**wipes sleep well knowing you are taking food out of your employees real family's mouths. All while demanding we work harder and "do more with less" under the threat of layoffs during a global pandemic, massive unemployment and raging wildfires. Does the depravity somehow make it more fun for you? Eff off.

Every employee should read Page 43 (Orange page number) of this PDF and it should be posted next to the minimum wage policy in each building. Egregious in my opinion.
The 71k employees that did not receive a cost of living increase, that is very necessary in these inflationary times (price of groceries, rent, etc) should be more than upset to learn about the compensation of the Named Executive Officers in 2020.
How much more does a millionaire need, when your staff works paycheck to paycheck.

@fyf, sad but true

It's a big club and you aren't in it.

I think OP is referring to page 43 of https://s1.q4cdn.com/806093406/files/doc_financials/2020/ar/NKE-FY20-Proxy.pdf, the compensation was up for a vote at the annual shareholder's meeting today for approval, if it was contractually obligated would it still be up for a vote?

I don’t believe you. Every function is being asked to cut back to bare necessities. There is no way they would run counter to this request. There must be something that we’re missing from this story. Is it delayed payment based upon previous contractual agreements? Please link your source.

If you needed a proof that Nike ELTs do not at all care about anyone but themselves and Wall Street, then this is it. Makes me sick to witness this sh– - just unbelievable. Nike is the worst company on the planet.