Any idea if we are getting PSP or not?
14 replies (most recent on top)
25%.
Book it.
I never quite understood tone deaf and deluded questions like this one from people.
@fd f..k you. People in the warehouse should get a PSP. They are not responsible for what's happening. All te directors, vice presidents, general managers, everybody from the middle going up should lose half of their pay. They are the ones responsible for the sh-t the company is in. Elliot too. Every f. ..ING one of them. Take away the big fat paychecks. Hold them accountable. In ELC BELGIUM hundreds of people, warehouse employees are being fired. And the management in Belgium are f....ng those workers over as well. They are getting bonusses for firing them without the severance they deserve. The people who started Nike in Europa Belgium, worked there for 25, 30 years or more, are being kicked to the curb. Shame on Nike!
@ak but those start on friday, even if your in or out of the office doesnt impact psp.
@dd Psp will not improve morale EH already and his LT crew did that. It was supposed to be half of last year based on 6 months ago. With the increased inflation and cost of goods it wont amount to much. the board can change their mind at anytime.
@ee No one should get psp, no one has done a good job turning things around or you would be seeing excitement in the market, instead the lack of strategy, markdowns and overspending. If the board really wants to make a statement no psp.
@ds Yep, this is the reason they split out the PSP into geos. Global will get between 25%-30% and the other geos will get bupkis. The only reason we will even get that is because the board doesn't want to show weakness
@ee Mmm... I'd say no.
A better question to ask: do we, as team, deserve PSP this year?
Nike has a net profit of only around 5%, has suffered significant margin compression in the last year, and ROE & ROA that has similarly plummeted. Conditions for PSP are the worst they’ve been in more than 40 years.
Which means they’ll likely give something just out of perceived obligation, but no one should expect bonuses similar to what the past offered. Remember, PSP is intended to follow and award good company performance. Nike is currently performing worse than it has since the early 1980’s. It wouldn’t be entirely unreasonable to skip PSP this year, although I doubt that’ll happen. Everyone will get something, most likely. I just wouldn’t be making any big spending plans based on PSP, to understate matters.
They'll give something in an attempt to boost morale. But it likely won't be anything exciting.
I am planning on no PSP and making financial decisions around that to ensure I avoid any unpleasant surprises. If there was ever any year in the last 15 years that we should expect no PSP it would be this year. iF there is a PSP it will be near the bottom of the minimum threshold...so maybe a tank of gas.
No PSP.
Theyre shelling out the 1% from cutting summer Fridays. Enjoy