I was searching around the job board last week and saw that there were a few thousand postings now today there are only a few hundred. I was under the impression that going into Q2 we would be seeing more not less, any insight into why this is?
4 replies (most recent on top)
@4rrd is correct. If job postings have been removed that should make everyone happy because the biggest cause of needing to lay people off is over-hiring.
We’re probably in the late stages of a very overextended bull market. Consumers will likely start dialing back into 2024. In addition Nike’s product pipeline has been stale for years and competition has been increasing. China is also a big unknown and even spurred an analyst NKE downgrade today. For those reasons the next couple of years could be more lean than most at Nike are used to.
Last recession was in 2009. Most people younger than their early 30’s have no idea what a recession actually looks like. In a recession people lose jobs and it often isn’t easy to find a new one. Every employee should hope that Nike slows down hiring right now. Much better to go into a slowdown understaffed than overstaffed.
All an attempt to get more Indians in Nike...
Positions are posted briefly so it can be said there was an attempt before hiring someone at ITC.
If you pay attention to the economy, our earnings calls and the shoe market globally, it's clear Nike is preparing for an uphill battle to finish the fiscal year on target. Next year will be more of the same high level of fiscal conservatism and austerity. I wouldn't expect much hiring in corporate-based orgs for a long while. Realistically everyone should be preparing for layoffs more so that gangbusters hiring. The days of hundreds of high earning roles across all areas of the business being open at the same time are over. Also, as a general rule, companies typically ramp down hiring going into fall and winter although that usually starts on October so September would be a bit early.