Layoffs coming that will affect corporate on Monday
284 replies (most recent on top)
Anyone from the Nike boys club get the boot? Probably not.
Has anyone seen severance package emails yet?
I was one of a three member team affected. Our new hire just started like last week.
With a few exceptions (none of whom are still there), almost every VP and higher that I worked with at DSG (for over 12 years) was atrocious. I am very sorry for anyone that was affected by these layoffs, but I know you will find a better place to work, and hopefully, one that values you as a human being.
Whomever said that the severance packages are "substantial" is blowing smoke!
Who they SHOULD have canned is the management! In my division, the C-level executive has not shown any leadership since he got here three years ago. When he has all-hands he pontificates without saying anything of substance. And when it gets to Q&A he spends so much time answering the first question that there is no time for any more.
His assistant is just as bad. All talk, no action, and a phony. No matter what the question is, his response is always "Great Question!" Like, we don't need cheerleaders, here, just real leaders who can lead.
https://twitter.com/TheLayoff/status/1693704301967753565?s=20
At least one team that I know of lost 5 of 6 teammates. The 5 who were notified are still employed and will be termed in December. The severance package is being held over their heads to keep them working through holiday. Total sc-m move.
If there are more than 500 layed off from the CSC then they have to comply with the WARN Act of 1988 or they can be fined and forced to pay those laid off for a full 60 days.
Haven't worked there for a while, but I worked at the corp office for close to 5 years - still keep in touch with people who have worked there 10+ years. It seems like this layoff pattern occurs every 2 years or so. It's almost like they over-hire in between with the thought of "we'll just weed the ones we don't like"...however when purge time comes, they often get rid of a lot of the really good employees, and keep the brown-nosers and useless people. Really leaves you scratching your head thinking what just happened. It wasn't a terrible place to work, but horribly political.
Well the CTO is a giant tool, so good luck with that.
@2kpj+1obeSoyg not sure, VP said we'd get an invite soon
Out of curiosity, is the CTO Q&A going to be tech-wide or just for a specific team?
Just got out of a call with a tech VP, here are some highlights:
- "substantial" severance packages
- canned response about re-allocating talent to where it's most valuable
- says new roles will be opening up
- q&a with CTO on Wednesday
- touched all parts of the CSC, not just tech
I got canned. Not even mad about it honestly. I’ll take my 12 weeks and get another job. They have shot themselves in the foot though with this thought. There’s going to be a lot of late nights for people covering this. Illy be enjoying my edibles in the late summer weather.
What was the severance pkg
I was let go. I am not sure about my other teammate. Along with the layoffs they are reorganizing. the are hiring nothing but contractors and it was said if it got tight they would go first. That is not happening and its bull. They are liars.
Unfortunately this is the result of drastic over-hiring from the wild growth during COVID. That is still poor leadership to overreact like that and assume that growth rate would persist, but the moves made in this change were merely a correction of poor decisions over the past 2-3 years.
@2byv+1obeSoyg
which team?
@2qkh+1obeSoyg
I don't think it was salary based. A team of 5 or 6 just had everyone canned except for the highest paid person. That being said, I can't figure out how they picked the people to be let go.
I'm rally sorry to hear about this for you and your team member. Best of luck to you. Thank you for taking the time to respond here so that we can all be aware and informed about what's going on.
Can confirm. Myself and another engineer on my team were let go this morning. All my credentials were cut off 30 minutes later. Totally out of the blue. My team is going to be left crippled while they are trying to get items over the finish line before deadlines. Holiday will be a disaster. I think it was based on salary honestly. Seems like a d-mb move to fire essential personnel though. The EMs were not consulted ahead of time. I feel bad for the people left that will be overworked. So unnecessary.
most likely they are. i know there was one at 12:30ish time frame
Are the calls still happening? (1:09 ET)
Just remember in the 2020 furlough cycle where Hobart & Stack took a 100% pay cut. Then it was announced that DmStack pocketed over 1mil in stock dividends. He does not exist to give anyone a job. The one that defend the company the most are usually the ones booted.
This isn't about poor financial performance or difficult times. This is a business practice that the company employs. In a cycle of every 3 years right now.
They tell the people it's about difficult times, but it's really about cutting costs to maximize profits.
Di-k's is not a growth story......Field and Stream, Combo stores, House Of Sport....none of these are game changers.
The only way they can maintain positive numbers is to cut payroll.
Stack and Hobart will stand up there and say how awful this is and encourage people to work hard so it doesn't happen again....but it will. With each cut, the next group moves closer to the ledge.
Afwul existence, awful leadership
Dam. I was hoping it was done
Calls are still happening as of 12PM ET.
This company...are they so poorly managed that this is a recurring issue (too many people, not enough growth)? Or are they using this (as they have in the past) to eliminate high-paying roles and low performers? Look at the list of layoffs from 2020 and you'll see VERY few people under the age of 45. You are NEVER safe here, there's always another shoe that can and will drop and eliminate 10-15% of the staff.
you will know when they are done because there will be a meeting put on to the calendar probably 5 minutes before its to start.
RE: Post ID: @2glx+1obeSoyg
Yes, calls have already been made. No idea if there are still more to go
(Time of writing: 10:41 Eastern)
RE: Post ID: @1jyl+1obeSoyg
It's factual. People are being contacted at time of writing (10:38 Eastern)
Does anyone know departments this is primarily affecting within corporate?
Not surprised that this would happen right before an earnings call again, just to pad a number and keep stock prices from dropping. I’m sure Ed’s dad wouldn’t have approved of such merciless measures. I though Ed said last time after we did lay offs that he would never go through that again.. money talks..
I was part of their first big layoff in May, 2017. It’s all about $$$. I worked there 16 years. Gone in a heart beat.
speaking to the previous post. To tell everyone that layoffs are coming just sit back and wait to see if you have been chosen is horrible. This is the way it was handled during covid with furloughs and it went way into the afternoon.
This is 100% true. Wife was called to a meeting this morning (monday 8/21) along with her entire legal team. Layoffs where spoken about during this meeting and severance was guarenteed to those that are being laid off. No word as to WHO is being laid off today but they are now awaiting Teams call from HR if they are chosen to no longer work here. Amazing. The money WASTED for the sales department and their customer outings is approved by procurement and management but not enough money to employ their legal backbone of the company. SHAME!!!
has anyone gotten a call yet?
100 percent true. now its waiting
Yes, this morning over 500 people were called into a meeting saying that layoffs were happening today and to wait for a call to see if you are terminated.
Sounds like it is underway this morning. Best of luck, all. But please read your severance agreement CAREFULLY. DSG has a history of a very strict non-compete that severely limits where you can apply.
Yes this is real. Ray was brought in to do exactly what is happening, to cut headcount and reduce operating cost. His whole persona of caring about the stores or people is a fake. He’s cold and calculated. Lauren and Ed brought him in so the stock goes up and makes them all richer.
Do not believe that DI-KS cares about you. You are a number, a head count and expense. All the posts you see on LinkedIn in are a show, a front because they have brainwashed people into believing the company cares.
You’ll see how much they care when the people they layoff can’t pay they’re bills, feed their children or take care of the bare minimum. They will not, they’ll blame everyone, everything and make excuses. I wonder Lauren’s email this Friday will say probably the same thing how great everything is while families that have no one to take care them are wondering what their life is going to be.
Do not be fooled DI-KS is like every other big company.