Closing of all the stores in Russia might be temporary but it's still going to hurt us financially. I wonder if we'll end up having to pay the price through more layoffs. I don't expect that any compensation for this virtue signaling will come from the pockets of those on top, after all.
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LOL! This is the beginning of WWIII. Most people just haven’t grasped that yet.
Yes it will impact Nike. How much remains to be seen. If it turns into a full scale but conventional war at best Nike will be disrupted for a couple quarters. If Putin feels Russia is at risk of total economic and/or social collapse and he attacks NATO or otherwise escalates things, well…there will be layoffs. A lot of layoffs.
I love how people toss out layoffs every second of the day, like a kid afraid to be bullied everyday.
Lets be honest here, Nike has maybe... 70% of its regular workforce working right now? Half of that gap is people who left to find remote work, the other half is normal attrition (Pi---d off with decisions, hate Portland, etc.)
The company isn't even running at full potential and there is gonna be what another 5% layoff? You all need to realize every time a company does a layoff, there is usually anywhere between 1% - 2% people who leave the company after that. We saw this is CDO and CDA. Layoffs are such a disruption for an organization that it actually hurts it bottom line in the short term (1 - 1.5 years) until it can really reach full potential again.
Did you read this before you posted it? Has my vote for the stupidest!
yes it'll definitely affect nike. loss of revenues from russian market, no matter how large or small, is still significant. what hurts the most is the reduced market position within china as a result of boycotting xinjiang cotton, china as a country itself was its own geo and 2nd in revenue behind north america. expect more layoffs planned after our next quarterly earnings report
Will we pull out of China if China were to invade Taiwan?
Nike’s Russian revenue is not significant. It’s also very expensive for Nike to do business in Russia even in normal times. Probably should have pulled out of that cesspool years ago.
What a ridiculously stupid post. How about just applauding the fact that Nike made the right call. And have no fear, you won’t lose your precious job as a result.