Unless Nike cuts down paying the ridiculous amount of money to corporate/tech employees, it is hard to balance the books with how much sales are happening. It needs to take just one-shot, and clean the mess of both cost and productivity, and a clean restart/resuscitate, but unfortunately, what is happening now is the slow and prolonged death. A typical principal costs approx $400 to 450k for Nike, in some case, as much as $500k for a shoe company, well for a niche shoe company - (bonus, espp, bonus, stock awards, medical, 401k, and other benefit) and it is paying as much as a tech company, and more in some cases for the same role. Typically, the going price for a principal can be cut down to half of this, even if they outsource it to outside of Oregon within US...and when it goes to ITC, it will be just a tiny tiny drop in the whole bucket of money... and yes, the stock price may possibly pick up at that point...and it is unfathomable even to speak about the total package cost to the company for directors, sr directors, svps, vps, who are just layers after layers who all - never do the right thing and never do anything!
10 replies (most recent on top)
@f5 Indian's will pay 'you' to hire them. Indian contracting firms will pay 'you' to hire their company.
You think an executive is going to voluntarily take a massive off the books paycut because it's the right thing for Nike? Lmfao. Our leaders sit on their merry go round for 2-5 years and then gtfo to the next dying brand.
We cannot fire anyone we need to... We cannot rollback the disastrous failure that is ITC... We cannot admit half of tech is make-work tech platforms... because it WOULD SAVE NIKE MONEY. When Nike saves money it means someone is no longer getting paid.
@b6 we could cut half the tech team and get a lot of dummies. The problem is we'd get rid of the wrong dummies and the worthless would still be working here
@b9 what do mean? Mediocre in general or Nike mediocre? That's a large gulf to cover. ICs aren't blameless they su-k as as much as everyone else
@d1 why can't we fire them? Most of them don't know di-k and do even less. Is it because of the caste nepo system?
The entire reason PE's exist is to crack the whip and micromanage their dozens of ITC "my buddy took the interview but I'm here to 'work' hires". We should fire them all but we can't.
Nike - if it looks and feels cheap, that's us!
downgrade all senior roles VP->SD....SD->D....DE and Principles to Lead
layoff the useless, so that's probably half
For ICs, mostly stay, unless mediocre, then cut em
cut all ITC, lock and load cursor, who needs that offshore bs when you can literally just do it yourself in 1 day....the bottleneck now is product and product is here, by the business, where it belongs....ITC is not needed, cut losses now, save money
"back to nimble and strong"
Guys. I have an idea.
Why sell shoes at a low margin to wholesalers, when we can sell them ourself? Has anyone thought of this? We could double our (checks notes) e-bidda!
Just leave the accounts that built the company for the last 30 years with empty shelf space (not like they’re going to fill the space with up and coming footwear brands that have greater access to top tier footwear factories)… and then, sell online on our own?! And, while we do that; we can halve the team responsible for the tech; to save even more (checks notes) margarines.
Would this work with our prophet problem?
What leadership needs to do is sell shoes and apparel. But they have no ideas, so the answer is layoffs because they can’t think.
You can’t cut a company into prosperity, you cut the competition, and Nike doesn’t have what it takes.
Nike isn't a brand like it was for many years. Diluted and lost its focus. Bought many items still in my closet but not exclusive by any means anymore.
Quality has gone and hardly nothing made in USA anymore. Can and will be managed overseas where the factories are. Simply as this
Maybe they should sell some of the PK Campus? Unload the building and the debt.