For some reason, this time I've seen fewer older employees affected than usual. Am I wrong?
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Ageism is real. They got rid of the old(er) folks last couple rounds. This is about getting rid of tenured, higher-paid folks.....why pay more when you can pay someone less to do the same job 1/2 as good?
No longer is loyalty and good work rewarded. We're just numbers. Blame the CEO 110%. Two years later and still losing ground? Yeah, no. As a shareholder (begrudgingly) myself, if EH is doing this for shareholders, then he can 1.) Cut his salary to $1 and take options priced at $100 or more or 2.) resign and let someone else who can make the HARD decisions do the job.
What's hard? Fire any executive who has contributed to the bloat? Aggressively go after store shelves. REDUCE the total # of SKU's on the market and go for better quality. Focus on innovation and building brand equity vs. trying to constantly chase the next woke agenda.
Can they do it? It'll take 10+ years at this rate. They need something to BADLY rattle their cage....maybe a taste of near-bankruptcy will do it.
Oh, and those that think a comeback is around the corner.....drive around the periphery of campus....so many buildings owned by corporate still sitting empty. So much waste on stupid shenanigans, just plain absurdity. I bet share holders would like to know how much OVER budget the expansion cost! Or the absurd cost of the 'special' furniture in these fancy buildings. Image is one thing, stupidity is a whole different ball game...a ball game that Nike is frankly never going to win in the short-term.
Cheers! I'mma go sell my Nike stock and buy Intel...atleast the other large employer has a CEO who has their $#!t together.
I saw a lot of tenured employees let go which does seem like ageism but sometimes perception isn’t always reality. In some cases it just landed that way because of the business needs. Honestly I think at this point if Nike offered voluntary resignations with severance those who are aged would jump for the opportunity! This place is toxic!
Older employee here. They got rid of most of us last round.
hard to tell by looking at people I have worked with, but heavily slanted toward longer tenured, local, male, white, senior and at the top of their game, and likely higher end of the pay scale
they basically just said, who has been here more than 10 years, makes over 190k and then cut them
Forty-two. 3 kids. Top performance marks. thanks nike!
- 3 kids. Top performance marks. thanks nike!