That explains why the MLB jerseys are so cheap this year.
Some Nike executive is going to get a $100M bonus for coming up with this brilliant plan.
The most horrible company I’ve ever provided services to. I mean incompetent, arrogant, clueless, nitwits, that have no idea what they are doing besides “optics”. Their 9,000% margins pay for everything. They have no idea what’s eventually coming for them. Waste, waste, waste, and optics.
Tiger Woods Leaves Nike and 2% get laid off…. Just saying……
Woke Bidenomics
Bye
Wholly crap. If my Jethro Bodine ciphering is right, that means Nike has 84,000 office paper pushers to sell their Sportswear. Seems to me they have a lot more fat to go.
Nike gave them the boot?...................
That’s lot of unemployed 6-year-old Indonesians running around un-supervised.
Had a shoe literally fall apart so I sent it back to the company for replacement—they returned it!!! Nerver bought another Nike product since. Their products are crap.
Nike: Our sales have never been stronger nor our optimism higher, so we’re laying off 10,000 child slave laborers. Seig heil!
Estee Lauder is cutting 3% to 5% of its global workforce as part of a restructuring program that aims to increase profits and become more nimble in a challenging international environment.(AP)
Denim giant Levi Strauss & Co. said Thursday that it’s slashing its global corporate workforce by 10% to 15% in the first half of the year as part of a two-year restructuring plan that seeks to cut costs and simplify its operations. (AP)
The biggest layoffs in 2023 were at big-name companies, including Amazon (27,410 workers) Meta, which owns Facebook and Instagram (21,000), Google (12,115) and Microsoft (11,158).
But so far in 2024, over 34,000 employees have been laid off among more than 140 tech companies, according to layoffs.fyi. Some of the big names this year include Snap, which owns SnapChat, Zoom, PayPal, Salesforce, Microsoft, eBay, TikTok, Wayfair, Google, Discord, Audible and Rent the Runway. (Nasdaq)
On Feb. 13, the TV network giant Paramount announced it was laying off 3% of its staff. (Nasdaq)
On Feb. 14, Cisco, a networking hardware and software tech company, announced it plans to lay off 5% of its workforce as part of its restructuring plan. The cuts will impact more than 4,000 workers globally. (Nerd wallet)
Scroll down for layoff announcements over the last 2-3 months
Will there be less shoes to shoplift?
“...as it contends with weaker consumer spending....”
“Consumer” theft, that is. Nike stores are ghetto catnip.
The articles regarding lay-offs of major companies continue to rise in number. However, those lay-offs never seem to show up in the BLS job reporting numbers.
As to the tech sector, I read a few months ago that since Google, META, and other major tech companies had scooped up all the talent a few years ago, anyone laid off by those companies were immediately offered jobs by second-tier tech companies often-times in lower living-costs cities so they didn’t really show up in the job-loss numbers. Miami is apparently developing a tech sector and many computer techs are happy to move there due to the relatively (but rapidly rising) lower cost of living.
Nike may be partly “Go woke, Go broke” and partly due to the fact that consumers are reducing the discretionary purchases due to Bidenomics. For, no matter what the media tells you, the economy is NOT great and the middle-class which is the back-bone of the economy are cutting back on unnecessary retail purchases due to the increased costs in utilities, property tax, and insurance. Let’s not get into the cost of groceries which is taking a bite (no pun intended) out of everyone’s monthly budget.
Anyway, when WILL these lay-offs start being reflected in job reports or will the media and government continue to tell us that “all is well” until and if Trump is elected in November? Because if he is, the following day and even before he takes office, the media will immediately inform us the economy is tanking and it is all Trump’s fault.
BTW, and as a somewhat related side-note, remember Paul Krugman’s prediction the night Trump was elected in 2016?
“It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover? Frankly, I find it hard to care much, even though this is my specialty. The disaster for America and the world has so many aspects that the economic ramifications are way down my list of things to fear.
Still, I guess people want an answer: If the question is when markets will recover, a first-pass answer is never. Under any circumstances, putting an irresponsible, ignorant man who takes his advice from all the wrong people in charge of the nation with the world’s most important economy would be very bad news. What makes it especially bad right now, however, is the fundamentally fragile state much of the world is still in, eight years after the great financial crisis.”
Gosh, that guy is such an idiot!
Have they not thought of marketing Trannie Trainers?
slave labor in foreign lands is healthy though