E-band here, Nike vet, in good standing. For so many of the reasons touched on in this forum I will be resigning later this month. I could not be more excited to move-on. Anyone in a similar situation?
22 replies (most recent on top)
Yep I resigned and ended up with package too. Quit pretending the earlier poster is a unicorn. They’re not.
I just wanna know where everyone is going, and can I come?
@1ehq here
You can believe whatever you want, but if you truly don’t believe you can negotiate a separation agreement after resigning then you are a d-mb simpleton that sucks at negotiating and likely don’t belong at Nike.
Yes stock options are taxed as ordinary income (difference in grant price and market price) then as short-term capital gains unless you ante up the money to purchase the stock.
How long have you been at Nike? You don’t seem good at navigating the matrix….
Poster - don’t now how to say this - but you were let go. It’s called a layoff. You were demoted and apparently given the option to accept a re-banding or a severance package. You chose the latter. Don’t act you negotiated some big settlement through a resignation and held the cards on this. Good for you they you got severance. But don’t pretend otherwise.
@7hll that is called a layoff, and not a resignation
There really wasn't any negotiating- it was more of an ultimatum. I was offered a completely different role (director to individual contributor) with a pay band drop OR a severance package with a very tight timeline within which to choose between the two options. I took the severance.
To the poster that claims they resigned on their own - and received a severance package. Doubtful they received compensation. Nike doesn’t - and never has - provided E Bands or under - comp for leaving on their own. Why would they? Poster is not telling the complete story. Also, stock options - the type an E Band is granted - are taxed as ordinary income. Poster is not being truthful or there are unusual circumstances and they were forced to leave. No severance to negotiate otherwise.
@50mq
You can call me a liar if you choose to but you are wrong - I’m an E band that resigned and negotiated a separation agreement.
Yes, the taxes are effing brutal.
Not true you can’t negotiate separation agreements if you resign as an E band. Want to know how I know?
I did.
Another e-band entering the chat…First day at new, fully remote gig (with a healthy +60% comp) is Oct 1st. Will provide 2 week notice as courtesy to my teammates (who I like), but considering the h$llish 18-month “journey” this company has taken me on, I’d prefer to give it the old 0-week notice - college summer job style.
@5omq yep saw the same. There is no negotiating "separation agreements" for E bands. That's only S+ after being forced into early retirement, NOT resigning as E band (a welcome freebie for the company). People (@1ehq) have nothing better to do.
However taxes will be a b*+
To the poster who resigned but indicated they received a severance package. Highly doubtful. Nike doesn’t give severance pay to somebody who voluntarily leaves.
Nike is like the minor leagues, preparing you for the majors at real companies that care about their employees. Just landed a new role with higher pay, larger bonus, and normal people. My last day can’t come quick enough!
Yup! I recently left. Nike is not the same company it used to be. Sad but true.
Count me in. I'm done with these never-ending reorgs, lack of leadership direction and the general instability that this constant turn brings.
E band here too. Was about to leave and started the conversation with my manager then the unexpected happened where I landed a new gig with a wonderful manager and colleagues at Nike. I am staying; not all of Nike is bad.
+1 here (E-band). Gave notice Sept 1.
So many jobs & interviews, really could go anywhere. THANKS NIKE for the assist, now I gunna dunk a real career.
Me too. Made the decision, gave the notice, said goodbye to good fellows met on campus, it was a nice journey.
Also was an E band. Resigned one day after the start of the new fiscal year in order to get my bonus. I was able to negotiate a decent separation agreement although the taxes on severance, PTO payout and cashing in vested options was ridiculous.
Spent a great summer with my family. Lots of jobs out there. Couldn’t be happier.
Good luck to you I doubt you’ll regret it; this E band didn’t!
I am and I know of at least two others doing the same. All E-band.
I am with you