Some News from reliable source in top level of org - around 9 to 10% global layoff between Mid Feb to May end to avoid bonuses! Brace yourself for change and be prepared for worst situations!Every department and organization is impacted in WHQ and across all geos! No partiality for any geo! Be prepared from tomorrow! This is how weak leadership make businesses more profitable by laying off their innocent employees! #SwooshLayOff #JustDoIT
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OP wasn’t right because the plan is 1,600 globally, especially since EMEA and GC have different regulations that need to be followed.
There are going to be territory level cuts in our function and HR is working on timelines for notifications, etc.
It definitely isn’t WHQ-specific; OP clearly just tossed a number out that was wrong and should probably be disregarded.
Corporate employees does not mean WHQ - it includes everything from the regional HQs to city offices and even regional/territory ones. Nike exists outside the Berm.
How do we know every org / team is impacted
@1zsj+1r5kNXRX Nowhere did the email say the entire 2% was coming from WHQ.
9-10% of WHQ = 2% global workforce. OP was right
People are rarely terminated on the spot. Usually the official termination date would be sometime in the future. It's very possible people laid off would have the official termination date of 6/1 so they can receive bonus and healthcare in the month of June, but they stop working whenever they're notified. Nike already planned the cost of layoffs, so I don't think saving some money on bonus would be a top priority for them.
From a bonus perspective the honorable thing to do, since employees here aren't leaving on their own, is to pay them proportionally and assume a payout factor that is average of the past 3y. The May 31 requirement makes sense for employees that quit on their own. Hope some of our HR partners can shed light on this.
Source of this information is JD. He wants to use all the millions he made and he can only do it after he is fired
you should be on payroll on 31st of may to get bonus. One of my friend got offer in May-25 in 2021 during great resignation but he put his papers only on June-1st so that he can collect bonus.
I can’t imagine the bonus will be decent with the financial strain Nike is going through.
If you can’t properly use the Kings English then how am I supposed Believe any of this …
Actually I think it's May 31st...
@fjt- not true..only if one is employed till June 1, one qualifies for PSP!
if you're laid off in May you still get year end bonus, so this isn't accurate at all.
Sir, please stop hash tagging stuff.
Exit packages are going to be substantial. “Avoiding bonuses” is a laughable assertion.
They are literally going to pay you to not work.
@djs - not true for all geos! Depends on local legislations, it can go until May! WHQ layoff may happen by Mid March but not for all geos!
My HR person says it'll be over the next two weeks.
Every news is reliable in an anonymous site :)
Source?