Thread regarding Nike Inc. layoffs

@1lxj+1qkBTGsq I have the same question but maybe because when Warn notice is filed, they put a date and a number of employees to it. For example 700 employees will be let go by a certain date. Currently, no one knows how many and no one knows when! Seems it is going to be dragged over the course of several months

Please help me understand why everyone cares so much about WARN. It doesn’t make a difference , does it?

When companies can’t grow sales they try to grow earnings by cutting costs including labor costs. That’s what we see in the market. Nike over hired since the last set of layoffs. Costs growing faster than sales. Nike is sort of like a yo yo dieter when it comes hiring.

@giz+1qkBTGsq I do not know about you but in our household we buy gifts and holiday tickets well before 4 days to Chrismas so yeah money was already spent before that email came through 4 days to Chrismas.

Yes, we see large companies go through tough times and reorg. The difference is most companies are looking to cut costs and freeze jobs over the next few years. The job market is going to get tough for sure and salaries have already started to reset from 2020. This means that most that are lucky enough to land a role, will get considerably less for pay.
This has been said by many analysts and even CEOs in interviews.
Yes, lower pay jobs have raised in pay but they’re taking the money from the higher pay jobs to level things out. This is what people have been screaming that they wanted for fairness to level things out.

Every country and state have laws that don't allow them to do it all the same at once.
And people quit talking about that dam warn notice with no date....it means nothing.

Also the Oregon WARN system is built to protect employees. Nike is normally very generous to people they lay off with notice, benefits and $$ that they normally don't fall into the Oregon WARN laws.

Also would you rather find out there are going to be lay offs in Jan? Right after you over spent and put tons of $$ on credits for gifts that you can't afford? Or took 3 weeks of PTO for a big trip over the holiday?

I feel folks are blowing this out of proportion. Every corporate does this! Intel, Spotify, Google, Amazon, you name it... This is corporate America. The only thing is I feel Nike could have handled it better. Quick and be done rather than dragging it over months. There is an undated Warn notice from Nike for 1500 layoffs. Yes I know it has been there for a while but why undated? There is a separate notice for 2009 and 2017 and 2020... Why just having an undated Warn notice? Why sending an email about layoffs just days before Chrismas? What constructive purpose did it serve? Why not just doing one batch of layoffs and very done?

Ok