Anyone heard what groups are getting hit first? Im hearing TA (no brainer, they are awful anyway), tech and product groups. It really seems the HR orgs are so heavy and frankly not sure what they do.
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So true about people being 'exposed' once they leave Nike. I left when I realized my skills were getting stale and I didn't have much to show for my time there. It wasn't for lack of trying, but I got roped into taking on roles I didn't really want with the hopes of things being better down the road. Often, it was just to make myself more valuable when the yearly round of layoffs were coming.
Narrator: It never got better.
True.
The 50 Bil challenge, kind of like Bowerman telling Phil to run 3:55, was really about something else.
Sure helped those GRATS though.
Stock is now considered to be a "Flight to Safety\Quality" buy, rarified air indeed.
The company is very lucky, it's two competitors, always mediocre at best, are now caught flat footed.
History tells us that the next act in this play, will be a Nike surge, and the others will hire Nike Executives, who can hear the foot steps behind them. The ingrates will join the competition, and continue the long tradition of ex-Nike Executives proving there lack of value, once they are starved of Swoosh. It is not a bad thing that your competition is inept, just ask Gates.
If you can say be a sponge, fail forward and pivot all in one sentence you too can be a senior director at Nike.
Unpack that statement and edit to amplify.
"Why are you all so angry at each other? What is it about Nike culture that drives such resentment towards your fellow employees?"
Nike's been transitioning from a company where you could spend your whole career to one where you will definitely burn out after a couple of years if you're not laid off by then. I noticed a change after 2015 when Parker said revenues would be 50B by 2020. The long term vision and creativity went down the drain in favor of short term (and relatively meaningless) gains. This also led to multiple reorgs as it became clear Nike would never hit this number. The result was losing people with know-how and skills over those who are just really good at BS'ing.
Nike was a better company when it wasn't just obsessed with chasing numbers.
@No Longer Drinking The Gatorade
Sounds like you've been through a few of these :) My experience at Nike was dead-on just like what you wrote. Nike's best days are long passed.
@8uv the company is built on performance. That means celebrating gold medal winners which justifies the means. no 2nd place. toxic know nothing narcissists run rampant. they stay in power by dividing and conquering. hunger games.
Why are you all so angry at each other? What is it about Nike culture that drives such resentment towards your fellow employees?
Oh please of course there will be layoffs. Target of 13-15%? Employees remaining will be so relieved to still have jobs that management will have an easy time convincing them to do more with less, pick up the slack, do the work of two people etc. All so execs can line their pockets with obscene salaries and stock options and spew word salad platitudes about sustainability while flooding planet with ugly disposable overpriced plastic junk no one really needs, made by miserable third world factory workers.
Correction : all companies in the US are laying off!
European employees are protected by socialist government policies,Labour laws and unions... You get what you vote for!
The economy is melting down. The country is hurting.
I don’t read anger in the posting. It states pretty obvious things. Revenues are down. All companies will be laying off. And of not essential you should be concerned. Where is the anger in it?
You seem very angry. Are you an ex Nike person? Obviously there are cuts coming with YOY revenues expected to decline.but why the anger?
Revenues down 90%. Of course they are coming. Question to ask yourself is whether or not your job is essential moving forward. If you cannot state that it is with absolute clarity than you are in jeopardy. Everyone is at every company. HR teams already have it plotted.
Where did you hear this?