They don't see a need for you anymore regardless of how much you've done for Nike in your many years here. Your work boils down to waiting to see if you're going to be laid off or if they'll manage to find a way to fire you. The only other option is to walk away on your own. Another cr---y option, but at least it preserves dignity.
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This is not a new thing. 15-20 years ago we used to joke about people getting let go due to "Rule 60". What's that? Once your Nike years of service + your physical age added up to 60 or more, you were likely headed for the exit in some fashion.
When the grey hair starts to come in, you get the necessary experience to do your job, get used to the berm life? It may be the time to leave or you will be shown the door? Don’t believe me? Ask around
@1raf, yeah it’s better to leave with a severance package but that’s a double-edged sword. Because for most people it’s easier to get a new job while you still have your old job, as opposed to looking for a new job after you’ve already been let go. This is especially true for older workers. There is still very much a stigma with being an older worker who has been laid off. I know a couple older workers who got let go from Nike who never really did land on their feet again. That’s a scary thought but it does happen sometimes. If I was an older worker and I thought my Nike job was not secure I definitely wouldn’t be waiting around for a severance package.
Info way outdated CDA packages were outrageous generous with cobra for a year lifetime discount PTO payout and 4 weeks per year accelerated stock vesting. Wife got it. She was e band. Would have been even better if she’d have made it a little longer to hit 10 years
@4fxc: that is not correct. Severance depends on your pay band. 2 weeks of pay per year worked was the norm for most who were let go. Although I know of 2 VP’s who were let go with packages extending into the mid 6-figures.
Of course PTO is paid in a lump sum and taxed. That’s because it’s income treated like any other income would be. How else did you think that would be paid out?
Nike’s severance is more generous than most other companies. I have friends who got laid off from other companies who got nothing more than their last paycheck and a hearty “Best of luck to you.”
whoever thinks the severance is great is a fool. you get a week for every year worked and unused pto is cashed out and taxed as a limp sum payment and that's it
This is terrible advice. The longer you’ve been at Nike the more benefit you get from being laid off. The severance is more than generous. The better advice would be to care less. Your performance won’t save you. Several upper right box, highly successful and exceptional employees were laid off. If you’ve been at Nike a significant amount of time and didn’t get let go, you are likely underpaid. To quote En Vogue, “Free Your Mind and the rest will follow.” If you understand that quote this post is for you. If not keep scrolling.
Seems weird that the entire exec leadership team is eligible for AARP or senior citizen discounts but diversity of age and experience would be unacceptable further down in the org.
Sounds an awful lot like a race to the bottom for short term gains. People have to want to buy your product before they give a cra*p about how quickly you can get it to them.
If you're of a certain age at Nike you've benefitted way more than someone who only joined in the last few years will ever dream of. So, maybe think about your stock, months of PTO, and sabbatical, before pi**ing and moaning about young people.
This too will pass, as the problems the company is about to face can not be solved with Societal gymnastics, or dare I say Fashion.
In the call today John said Nike had a great bridge to it's customers, if this were so, the Company would stop pursuing Social capital goals, and focus on creating durable products of discernable value.
Meeting the competitive pace of Amazons delivery, and merchandising breadth, demands work, not Woke.
Experienced employees, experienced ex employees, will soon fill the breach, as the consultants slink away, as they do, when the going gets tough.
Hang in there Grateful Grays, your day is coming back quickly.
Better to get laid off and get a package.