Is there any way to know? I'm safe so far but to say the wait is stressful would be an understatement.
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For now things should end this week. Remember however, right now Nike is still significantly overstaffed given market conditions. Nike has had temporary struggles in the past several decades but this time it really is different.
The era of low interest rates, easy credit, and confident consumers is ending. Most people sense that the economy is just one black swan event away from disaster and they’re spending less on discretionary items as a result. In addition to this uncertainty Americans are nursing more than $1 trillion in credit card debt, nearly $2 trillion in student loan debt, car loans that are edging near $1,000/month, housing and utility prices that keep outpacing both inflation and wage growth, etc., etc.
Nike is essentially no longer growing and may indeed be shrinking. Headcount will need to match this economic reality. Which imho means more and significant layoffs in the next 12+ months.
My “touch base” was at noon. Not sure how much later into the afternoon they’ll go for today.
No, WARN should not be posted today. It will come in late August if not 01 September.
Will the WARN notice be posted today? It should be.
None of local news have picked up Nike layoffs yet, or I haven’t seen any
Is today only impacting GT? What about the bloat in other areas of the company?
@a5 sadly, looks like they have gotten efficient at laying off ppl.
They're trying to complete layoff notifications today so they can do position change notifications tomorrow.
I would anticipate today, tomorrow, and Thursday and then an announcement on Friday if all is according to plan. Monday at latest.
In the email from MD, it was mentioned that an email will be sent when the 'terminations' are done, which will be first. After that it will be reorg or no change. Not sure the timing at all, could late thurs or sometime fri, then reorg after, no way to really tell, other than it's likely things will take longer than planned.
Seems like they are expediting this round as I’ve seen all levels affected today. They aren’t starting top down this time
This is just the start and expected to go thru the rest of this week.
Stressful is an understatement 🥺
You'll have a meeting with your team and upstream when it's over.
Sounds like it's through the entire week. Last time they did this, they did top down.
Unfortunately, probably not