Thread regarding Nike Inc. layoffs

Layoffs wouldn’t be so bad if the incompetent shitheads were actually removed. Instead, it’s as if names are being pulled out of a hat?? Why can’t layoffs be done right?

@ar

Does the toilet paper the employees use make the business decisions at these companies? Or is it something else?

@h2 so true

The good old boys who built and ran that company as it soared, moving away from that is what ki-led it

Nike goods are a premium segment commodity, won't move same as FMCG brands like Target, Walmart in the near-recessive economy

@a4 That’s not a network lmao.

Guys, I thought we just had to believe in something even if it meant sacrificing everything. Isn’t that what we’re doing?

Layoffs can contribute to cost savings through efficiencies when businesses get bloated and you have resources doing the same or similar jobs, which get eliminated. Who would have guesses that allowing a consulting company or two define the organizational chart without any understanding of how the company actually works (we all know the VPs and strategy folks in the room don't know either) would not work out. Going after those that have been here awhile without any idea of what contribution they make or what kind of leader they are also doesn't help. We kept leaders who are great at covering their a$$ and telling a great story instead of those that were actually good leaders and would be able to reset the company and the culture. No going back now.

@as look for the last year, Adidas and Nike have been doing badly. Hoka is private, so you can't see. But Adidas and Nike shoes are expensive. Hoka shoes are cheap, which is why they are selling.
Target and Walmart are cheaper stores. Aldi and Grocery Outlet are expanding much faster right now than Fred Meyer. So do the math: in hard times, cheaper stores and items do better in lieu of the expensive stuff. When the middle class has more money, they buy more expensive stuff. But those are not the times.
Maybe Nike needs to make some cheaper shoes as well (maybe not targeting top-notch quality, but shoes that can be made more cheaply), not just expensive ones. They should sell a wide variety of shoes at prices that target people across all income ranges.

Face it Nike isn't what it used to, not cool and not edgy anymore. Combine that with a bloated company run by monkeys and you have a death spiral. Use the time you have to leave that tu-d circling the drain while you still can.

@ar earlier @a7 had said Walmart and Target are doing well. Doesn’t look to be the case. Not sure why though.

@ap I don't get your post. You are making some assumptions based on what??? Yeah, let's see how the stock price relates to how much toilet paper employees at Walmart, Target, Nike, and Nvidia are using. Did you look into that? What kind of correlation are you making? But whatever goes on in your head, it's your own party, which I don't feel like joining.
The general state of things: AI stocks are doing amazingly well these days; that's where investors are putting their money. When the investor's money is about to run out, guess what... the bubble bursts. Crypto and crypto stocks are not doing so well, as they are tied to economic and global conditions (not diversity).
And the rest of the stocks? Well, it's up to the mercy of the fed rates and consumers. Given the state of things, how can one buy a lot of things if the middle class is being wiped out by layoffs, and the ones employed are saving their money? You do the math.

@a7

I’ve added Walmart, Target, and Nvidia to the list below. Two of which are not doing well, as per your comment.

2020–2024: Leadership Diversity vs Value (sorted by diversity increase, highest to lowest)

•   Nike: leadership diversity up ~30–35%; ~$150B–$160B decline

•   Intel: leadership diversity up ~20–30%; ~$150B–$160B decline

•   Salesforce: leadership diversity up ~20–30%; ~$80B–$100B decline

•   Target: leadership diversity up ~15–25%; ~$60B–$80B decline

•   Pfizer: leadership diversity up ~15–25%; ~$150B+ decline

•   Walgreens: leadership diversity up ~15–25%; ~$70B+ decline

•   The Walt Disney Company: leadership diversity up ~15–25%; ~$150B+ decline

•   Starbucks: leadership diversity up ~10–20%; ~$40B–$60B decline

•   Comcast: leadership diversity up ~10–20%; ~$80B–$100B decline

•   Verizon: leadership diversity up ~10–20%; ~$100B+ decline

•   AT&T: leadership diversity up ~10–20%; ~$100B+ decline

•   Walmart: leadership diversity up ~10–20%; ~$50B–$100B decline

•   NVIDIA: leadership diversity no longer published in SEC filings; ~+$2.5T–$3T increase

The stock is bad, but it's not due to layoffs. Besides the AI companies, which stocks are doing well right now? Bitcoin has been down for a few months, and all the crypto and mining stocks. You've got to be a magician to make Nike stock rise in this market, unless you are the CEO of Anthropic or Nvidia. Believe me, I don't praise EH because the company's morale is low, there are no promotions, and there is major bias and favoritism, which I have yet to see cleaned up. However, plenty of other company stocks are doing well, like Walmart and Target. So what are they doing better than Nike? But if you look at Adidas, its stock is doing just as badly.

@a2+1kn9x4h1n. EH

What old boys network? Who’s in it?

Worst stock showing in 12 years.

#winning