Posted on 04/19/2024 5:19:36 PM PDT by george76
Nike will lay off about 740 employees at its world headquarters in Oregon, a letter showed on Friday, as the top sportswear maker looks to rein in costs after warning of a revenue dip in the first half of fiscal 2025.
The "second phase of impacts" would begin by June 28 at its headquarters, Michele Adams, Nike's vice president for people solutions, said in a legally mandated notice to state authorities.
The company's shares were up marginally in after-hours trading. They have declined nearly 13% this year.
Nike had in December announced a cost savings plan for $2 billion over the next three years, and in February said it would cut about 2% of its total workforce, or more than 1,600 roles.
...
Several companies in the U.S. and Canada have announced new rounds of layoffs, following the spate of reductions in 2023, to cut costs in the face of an uncertain demand environment.
(Excerpt) Read more at reuters.com ...
Hope they're not following the U.S. Government's lead.
https://freerepublic.com/focus/f-news/4218102/posts
The declining fan interest in professional sports has to figure into lowered sales.
“vice president for people solutions”
Newest name for Personnel and HR?
Believe in something ....
Even if it means firing 740 employees
Oh wait, Nike.......
Wassup, Nike?
Believe in something......
(Sorry for the employees)
They have hope....
“444 Climate Change jobs available in Oregon” on Indeed.
True story. Young worker at the university where I worked looked into an environmental summer job in a forest.
It was climbing up or being hoisted up trees by crane to take birds by hand and snap their necks to kill them, to re-balance the ecology.
(people solutions)
Here at Nike, we turned 740 people into
Soylent Nike
(It was climbing up or being hoisted up trees by crane to take birds by hand and snap their necks to kill them, to re-balance the ecology.)
Good heavens! 😲😱🙀🤯😳
Nike made it big by creating a new trend, Air Jordans. Before that basketball was all Converse.
Now Nike is the old, stale company.
Their people must find new markets or get someone who can.
These closings/layoffs are an almost daily occurrence. When the government screws up the economy people can’t afford overpriced shoes.
OH NO! Does this mean there's been an interruption to welfare checks?
The people who used to buy Nike are now looking to buy orthopedic shoes. The young people are buying cheap sneakers thru online Chinese companies. Truth!
Shoes made overseas with cheap labor.
“Shoes made overseas with cheap labor.”
Smaller scale, but how is that different from Mao’s Great Leap Forward crap?
well, Nike had to pay out all those huge contracts for the University of Oregone bb/football players so what do we expect....its just the workers and their families...aren’t the bb players more important?
More layoffs. Another feature of the bidet economy.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.