Have you heard anything about potential Nike layoffs? Any chatter, news or rumors?
7 replies (most recent on top)
Then they’ll recruit from other cities, pay a ton in relocation costs then let/watch them go in 2-3 yrs. Such a waste
@2rwj, that’s exactly what an inflationary spiral looks like. It’s self-perpetuating. 1/3 of all the US Dollars in circulation were printed in just the last 2 years. That’s not a myth or urban legend either. It’s easily verifiable from credible sources on Google. It’s absolutely insane and unsustainable. That’s why inflation isn’t going away anytime soon. It’s creating the biggest financial bubble in American history and when it finally collapses - and it will at some point - look out below. You’re right about 50% capacity too. Twice last week I had emails bounce back to me because the person was no longer employed at Nike. Everyone I work with seems to be stretched right now due in part to not having enough people. Never seen that before. Not like this anyway.
@2rwj Yeah it’s not looking great right now
Damn, most departments already handling at 50% capacity... how are they going to work with more layoffs? So if inflation goes out of control, companies cut more jobs which curbs spending, which means more cuts... man. Its already over for America. Who would've known used cars being worth so much would impact the economy!
Layoffs are going to be a permanent part of Nike's culture.
Probably no large layoffs right now.
Previous poster is correct though. The rest of the fiscal year is going to be lean. Nike shoes are out of stock at a bunch of places. Can’t sell what you don’t have in inventory.
Inflation is out of control too due to too much monetary stimulus. As people start paying $5/gallon for gas and spending $200+ to get a cart of groceries you’ll see less of an appetite for $180 shoes. All of this will impact earnings and definitely PSP. Might get better by mid 2022 or it might get worse. If it gets worse you’ll likely see additional layoffs. The stock price is in the stratosphere too. Nike stock is not currently priced for what may be to come. It’s ALL about pleasing Wall Street these days along with the execs who derive most compensation from stock so yeah there could be some fallout there too.
Buckle up. Going to be a bumpy ride.
will continue on a rolling basis for activations. stopped calling it cda as 2020 wrapped up and just became known as the trite "reorg". single digit sales forecasted growth, 10-week delays and shortages in supply chain and inventory, covid labor shortages and the highest levels of inflation in the usa in recent memory, and a lot of lost talent who were laid off or left voluntarily and took their talents to other firms