We know Nike wants to get rid of 1,400 employees, so we are looking at at least one more, if not several more waves of layoffs. September is a given by now, but do we know when? Not that it will do much difference in the long run if we know if it'll take place next week or three weeks from now, but it's still better to know than be in constant fear of what tomorrow will bring.
8 replies (most recent on top)
There will be cuts at EHQ level somewhere in end September - beginning of October
P1 - 200+ tech in June?
P2 - 900 in Geos, EHQ, and WHQ in Sept.
P3 - balance in WHQ focusing on HR, legal, and supporting functions mid October.
2 percent is more like 8 percent when you remove retail.
EHQ on 09.25.17
@unf is correct - they are done for now.
If we have another bad quarter - all cards are on the table.
Listen to earnings calls.
I haven't seen any signs of futures improving anytime soon....
There certainly could be more waves of layoffs, especially if performance doesn't improve in some fundamental areas of the company. However, in terms of what has been announced, Nike said in June that they were trimming 2% if the global workforce, which would equate to about 1,400 jobs. From that announcement, 255 were cut from Nike Tech in June (with last day on the payroll in July) and 490 were cut in August (with their last day on the Nike payroll being September 30th) from other areas of Nike. That makes 745 jobs eliminated from WHQ, and the remainder of the 1,400 were cut in other areas of North America or in the geographies (Canada, Europe, Asia, etc). If more layoffs are coming, it will be seperate from this summer's planned bloodshed.
And there will be a 4th and 5th wave too.
Count on it.
i think september 30 is floated around as the day...