We have 9k staff at GT right now. Will the cuts be 500, 1,000, or 2,000?
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@hd Salary in PTC is more less the same like in ITC.
@an PTC is ~100 people
@fv not quantity but quality, people who know what they want and do not drift away to the next section package. At least in FTS that is so crazy.
Still too many Ds/SDs/VPs. So many overpaid people who contribute nothing, or worse, hold the rest of the group back. Layoffs at these levels make sense given the company situation.
@fh yeah they don’t have the guts to layoff the right amount. Come at me executive bros and your fancy overpriced conslutants.
NACO
Next week's guidance is going to be a disaster. Nike will need to save tons of money, billions.
1000 FTE’s + 1000 ETW’s is my guess.
25% of GT HC impacted.
Block was able to lay off half of their engineers. They are still accepting payments around the world…
Didn't you notice the layoffs have been delayed? Should have been done by earnings. The stock is in the gutter and oil is about to create a bigger crisis than covid. The number is probably growing every day.
@bx yes and also yes
ETWs being removed is not a layoff. Given the stock price I believe it’s going to be a big number.
We could just cut all the contractors, cutting headcount in half. Then cut the D/SD/VP who only had contractors under them, then redistribute the work to the FTEs that remain. 50% headcount reduction in tech with zero layoffs.
......
Yeah, me either.
Not enough to make a difference or change anything for the better for Nike.
@b1 Design is overblown and overpaid, you randomize some colors on existing patterns and sell shoe, easy!
Marketing is overblown and overpaid, it's all outsourced to other firms anyways so they are doing nothing
You can be reductionist on any department
Overpaid do-nothing which is almost 80% should be laid off! Reasonably - Shoe company can be run in a quarter of GT budget just even being in US...GT, a joke at Nike...blows things way way too much and make it bureaucratically way too complex...You make shoe, sell by you or your partner, ship and collect money.
My guess is 500~1k tops and a nice chunk have already been done or are underway (SEC, PTC). Another sizeable portion will be ETW contracts set to expire at end of FY.
It won’t be nearly that many. A few hundred folks, etw and contractors cut.
Is it still that many? If so, how many at peak?
@ac move the company to India and all those VPs who do a good lobby for ITC.
Jeez, those are some paranoid/end times predictions… they still have to sell shoes, ITC and AI aren’t quite that ready for everything (not saying they won’t get there). 1000 tops in GT is my prediction. Hopefully I’m one of them!!! I don’t need it anymore.
Could be 3-4,000
Roughly 5k Employees and just shy of 5k contractors. 50/50 split is wild
😱
@a3 fte + contractors?
There are 9k employees in GT!??!