Confusing! I cannot keep up with all the mixed messages from the “leadership” team. So, is January 2021 the end of THIS reorganizational play or is it now June / July, 2021? Any insight from anyone?
This is also my question. Someone posted it on another thread but I copied it here to make it more noticeable, I would be grateful for a response.
Nike has been getting rid if older employees for years by using the strategic plan focus changed. Reality check. Orders are down, people are not spending and profits are off and older employees cost the company in benefits and 401.
@cbus - that was a different Nike that got the tax breaks. That Nike had a soul.
This Nike.... Feels more like a fanboy riding on the strength of the brand built up by the 48 years of passion and drive and innovation that was the Nike of the past.
As an investor - I hope the shift to from Nike as a brand to Nike as a product company works and we see a ROI.
They still have layoffs coming in February. Then you’ll see new “specialist roles become available. These will be needed to fill the laid off employees. Many that built and shaped Nike. Being told, either their job was eliminated or that their skill set no longer matches the direction of the company. Really....retail skills no longer match a retail company???? But these will be third party contract workers without benefits and a much lower dollar per hour salaries. The shame, however, is how Nike convinced city leaders to give large tax breaks with the promise of adding additional jobs here in Beaverton. So they get the tax breaks then lay off employees.....make them pay those taxes they lied to get.
@1ney - obviously it’s about the $$$$ but as a shareholder and employee I expect the new CEO to have some sort of vision while steering the ship. That BS “vision” he spewed early on with more refined categories is fine and cute but the fact JD is holding on tight that “this is what we asked for in the engagement survey” couldn’t be a bigger load of sh**!
I think the I.T. changes are what Nike is doing Jan-July 2021.
of course by the time that's halfway done it will be time for another reorganization.
Strategic vision??!! That is not the driver - not at all. $$$$$$$$$$ is. There is a strategic vision in place including simplified categories and more focus on digital - direct to consumer. Nike has the best excuse to lay people off given this "strategic vision" though I assure, that is not the reason. Is it over in January? For the most part, yes. Will it ever end at Nike? No, never. Layoffs, at smaller scale, will happen every 1.5 to 2 years.
It will be ongoing bc JD and team did not come in with much of a strategic vision!
It won't end. There is no long term vision.