@d4
What t@d4 said. An easy indicator if more layoffs are coming is to look at SG&A line on Nike's financial statements. If it's above 25% of sale, layoffs are definitely coming. Target is around 23%. The wage account is one of the largest drivers of SG&A expenses.
With sales on a downward trend, the exec team has to make decisions and reduce expenses along he entire P&L accordingly to "win now". Nike needs 2-3 quarters of sustained sales growth to relieve pressure on expenses and slow or stop layoffs.
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@be I am neither...you just dont get my sense of humor. Thats ok tho...
I don’t know about this quarter, but going forward Nike still needs to shed several thousand jobs. Most people who know how to read financial statements know this too. You can be absolutely certain Nike leadership knows.
I’ve said it before and I’ll say it again: Nike is still staffed like it’s a company in consistent and perpetual 8% annual growth. They either need to generate that growth very quickly or continue right-sizing the company. Since that rate of growth likely isn’t ever coming back and since Nike refuses to make the painful but necessary large staffing changes now, you should 100% expect that going forward layoffs will be as normal as anything else.
May the odds be ever in your favor. Or, you know, you can just work somewhere else where some semblance of job stability isn’t considered an “extra”.
there is no finish line
Like others have said, we are pretty much losing all of our contractors in tech (at least all of them that I know). besides that, the new org structure is a sh-t show still. Too many layers of VPs/directors that need to be pruned, and we still don't have a complete org chart... I give it 6 months
@b0 You're either a b**tlicker or delusional
I'm not sure it answers your question but It's kind of another round of layoffs-contracts are not being renewed for many ETWs who are finding out this week
I hope they layoff my bosses. Freaking hate working for these narcissistic karens.
if stock goes down....more layoffs also more moving remote worker jobs to India.
Layoffs are all done (especially in GT)....new lean mean flying formation in place for atleast 2y.
3-4 months mark my words~~
More coming