What else?
Nike business folks are already training on AI well beyond just MS Office apps. Thin’ about it. Culturally, it will be much easier to shut down ITC in a year or two when AI takes over 90% of the tech jobs at WHQ (PHK) and a good chunk of the business jobs. The timeline might be off, but it is coming.
We are replacing an industry leading department with a culture that has won a grand total of 10 gold Olympic metals across nearly ONE HUNDRED THIRTY YEARS.
Being the best at fraud is a race to the bottom. No wonder all Nike's department heads are Indian now.
Doesn't make sense. The business hasn't announced layoffs, only Tech has.
They already told SEC, business will be mid-march and tech will be later, near end of april/early may. Unless they are doing two different cycles within weeks of each other, which seems silly, it will be the same
From an accounting point of view and considering earnings around the corner.
It’s confirmed to be Q4, I feel like next week makes the most sense.
Anyone have insight?
@a5 Send money back to own country, or keep it here. lol sweet summer child
@b3 cheap servants who are in desperate 3rd world countries are better than greedy americans. learn to live on much less
"It's plain to see that ITC will continue expanding until they blow up a cyber weekend."
This exact scenario happened a few years ago.
@a8 well they did 90% + in EMEA and are realizing now that some of them were very useful , I am not against leaning out a bloated org, but over correction will be a bigger problem to sort out
It's plain to see that ITC will continue expanding until they blow up a cyber weekend. And even then they will blame the massive drop in annual profit on PHK and our id--t leaders will believe them until there's noone else left to blame.
We spent so much money building the best & most stable digital marketplaces in the industry and it's getting destroyed because our ceo wants to save pennies in personnel costs. Give it another 3 years and he'll be facing his own sec lawsuit for throwing away half our business.
Come the fu-k on. This is tech snake oil. LLMs can be useful. But they are toddler level. They can’t run on their own. Investment, cool. Reliance. You’re d-mb. The problem is that tech overall has been eating its tail. Not at Nike.c but the AI space. But because tech leaders at Nike can’t tell the truth. It becomes the same. The hope to make it another day. Without ever expressing reality of the ecosystem.
It takes one person, doing 6x the work, to make AI viable. It's crazy to think anyone would use AI as a justification to cut costs. If anything, it takes more people to make it work than it would to just hire those people to do the danged work.
And more fvcking layoffs? Ate you serious?
We're becoming those big shell companies like Boeing. Shift the good people out. Bring in cheap labor that doesn't care, because the leaders, the owners, and the board dont care, so why not?
They want to get rich. They don't want to do what's right.
The Maxims are like Taxes. They apply to you and me, but not to the top brass.
They dont give 2 fvcks what happens to Nike. They want to pad their resumes and make money. They couldn't care less about this company...and we get to go down with the ship.
regarding the 50% layoff projection for phk, ironically a news article just came out stating Block cut their staff from 10,000 to 6,000, nearly 50%, and flat out said, "we're pivoting to full AI investment and rewriting the entire company operations around AI processes"
aaaand...what did that person, don't even know who that is, seriously though, whoever that person was, on that really weird call this morning, say.....he said: AI and blah blah, and AI and blah blah, and change, and blah blah.
tl;dr: we're going all in on AI and we're making massive cuts
that's the take away, and Block is just the first company of many to 'nut' up and tell/show the world, "this is the way"
scary stuff my friends, hold on, cause it's gonna be years of turmoil ahead shifting to this AI process.....smaller teams.....less programmers....more confident and outgoing personalities will stay around that are good speakers....everyone else, unless in India apparently will stay......still makes me wonder why we need ITC at all...
When they ramp up the employee discounts at the company store… iykyk
Mix the facts in with the rumors -- so the rumors taste like facts
Same for 2.
1 and 6 are facts.
I mean, all of OP is just a summary of every rumor on this board for the past 3 months. Not a lot of "facts"
I think it’s supposed to be former CTO MD. I remember her smile as she said ITC would be faster if it weren’t for us.
@ak that's what I'm wondering, doesn't line up with any of the VP's on the new org chart shared.
@ac who the fu-k is MG?
some DAI Sr. dirs are insisting the PHK teams there are in a good place, but they could be blowing smoke up their as--s
Remaining remote workers will be given the option to relocate back to Oregon or severance
MG did say US teams were the ones slowing down ITC.
@a8 the company has lost a relative half a trillion in value in five years. If that isn’t on a trajectory of going under… what is?
A layoff of 50% of any org would be catostrophic and would never happen unless the company was going under. It will be the same as every other RIF and come in between at or below 5% of corporate and at most 10% of tech. If you want to lay off 50% of your tech org, you do so gradually and rely more on attrition than a single firing event that is inecreidbly expensive and disruptive to operations.
I know nothing, but wonder about merging FPE and IE.
no surprise on ITC, buying a SECOND building says it all
ATL was a play for optics, maybe that optic has passed or the new ETL doesn't play into that optic anymore, none the less, it wasn't providing value, so makes sense, if true.
Who was that director that 'retired' early......writing on the wall perhaps....
As for phk, sounds like a massive GT reduction, such a bad move, feels like 50% but that could be a bit outrageous
Item 4. when was this confirmed?
Atlanta office to close