I’ve heard rumors of when layoffs will happens. There has even been debates on here about specific timing and if it needs or not needs to be in the 3rd quarter. We are fast approaching Q4. If it will happen I believe it will happen in the next two weeks. Any other thoughts?
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They said during the earnings call the restructuring costs would be “recognized largely” (not entirely) in the third quarter. What they say in earnings calls goes through a massive amount of scrutiny for all kinds of legal liability issues. The language must be precise and accountable. So while it won’t all happen by the end of this month, there are definitely some big changes coming - safe bet is on all the very expensive VP/executive level severance packages. There is too much risk of being accused of leading investors (or potential investors) astray by not following through on what was said during the earnings call.
Really hoping the toxic directors and sr director of capabilities in MPO and Logistics are on the list
Everyone in emea is back to the office looking busy more than ever, micromanaging and having meetings just to fill the agenda. Hope the axe will finally come to higher management too
Finance is in middle of close and forecast. Unlikely finance during forecast. Maybe after.
What finance group was impacted ? Global ?
Already begun. Some in finance were laid off last Friday. Small, but the start.
Start there, who lost a finance partner? Your group may be in for a shakedown or reorg/consolidation?
Best luck to all for next week.
@1kne+1qUaJeAs Thanks for the honesty, this freaks me out. I can’t move because of family reasons and I’m terrified being laid off will ki-l my career given the minimal opportunities in sportswear in this city.
Losing a job is not fun. Had it happen long ago in a mass layoff where they cut entire departments and divisions to hit 900 heads. I don’t wish that on anyone. Had to relocate to find a job.
This thread is literally Nike human resources and employee relations having a phony, scripted conversation with each other (using bad grammar to fool low-IQ employees) to avoid more scandalous observations made in other posts.
@stx+1qUaJeAs I appreciate your compassion, but where is the compassion for the people who have to deal with the consequences of bad management on a daily basis? Losing a job su-ks, but sometimes it is warranted. The alternative is worse for everyone.
@stx+1qUaJeAs I’m someone who works for in an org of incompetent sr directors who asks their teams advice, do what they want anyways , micromanages their teams to follow suit, and then throws their people under the bus when the exact thing they were warned against (and they refused to listen to) happens.
Sure no one wants to tell their kids they were laid off, but watching this leadership continue to survive while good, talented people who make a difference are laid off is incredibly disheartening so I think previous comments are warranted
have some compassion, idc who you are, noone wants to go home and tell their kids they lost their job
@yjx+1qUaJeAs extend that prayer to the rest of that broader org
Praying to God that at least one or two Sr Dir at NSRL would get the axe
Nobody knows timing so no don’t worry but be ready.Wil be in this fiscal.
We have been told higher bands such as vp and senior director first before they get to everyone else in q4.
There are multiple posts about this already. Please read them so this doesn’t become a thread full of repeated conversation.
TLDR: it doesn’t have to be announced to individuals this quarter
It may happen and it might not. It could be months of this waiting to know what’s going on. No communication what so ever. It just needs to happen before FY25