If your LinkedIn feed is like mine, it's full people that were either promoted or not let go, posting links to new jobs to fill the gaps that they just created with the last run. Let the cycle begin again!
10 replies (most recent on top)
Noticing a lot more turmoil in finance on this forum - sounds like not many ppl like NR. CFO my Friend take note!
Finance doesn’t know sh-t and they are left with sub par leaders like BF and NR and a slew of other white women like the risk lady and the audit lady - all who yes people to MF.
They have no control over other functions or the geos and they know it….
This is continuous cycle at Nike - Hire. Fire. Hire. Fire. They is no real talent strategy in place. It doesn't seem like MM is held accountable, nor are her leaders. Since 2016 Nike has added nearly 13K employees. How much has the revenue and cost structure grown? Who is doing the retrospective on this?
@1cki+1sYQFdUz exactly!! Why is this simple math not looked at when making these decisions?! Are finance and hr asleep???
Look at who you already have before you lay them off, how much you've invested in hiring/relocating/training them, and before you pay them severance to leave look at the entirety of this company and determine if there is anywhere else you can place them before you say that all that $$ is a sunk cost you are willing to incur.
We really do look like a joke of a company - announcing a huge 2B cost cutting plan, massive layoffs to make it happen, and now mere months later tons of managers on a hiring spree on LI unwinding the plan. i would make a heavy wager that we are in no way close to the 2B plan
@gml+1sYQFdUz It’s about 70k per candidate to recruit plus 1.5-2 years to see ROI. So, for every E band that’s relocated, it’s about 700k before Nike sees a return. For those who were recruited in 2021 and just laid off, and qualify still for some of the roles we posted we are throwing money in the toilet.
This should be the first agenda item on the “cost reduction” initiatives
JD needs to stick to that 5 year plan. "Of course I fired them all"
Regardless if they’re hiring for a lower level / band that they laid off the pure cost of onboarding someone is just as much if not more of off boarding - would be good if MM perhaps did some market research on what the total cost is and actually made this make sense. But wait she’s been at this company so long she doesn’t know how external comparability metrics work. This company looks like a joke from the outside.
The best part is some of the people you see getting promoted. Pick any analogy like high school, lord of the flies. Nike has always been more about the as*es you kiss than your skill & contribution. With the brand in free fall its only a matter of time when these clowns will start turning on each other.
Amount of promotions I've seen to "cost save" is mind boggling.
HR keep a department that is utterly useless but let go of the cross functional team mates that keeps them busy?
It’s actually wild, like the amount of roles . Come join my team !!!! Like if yall would’ve reported prior to layoffs you wouldn’t need to hire people to join your team . If you would’ve let people apply for transitions prior to layoffs you wouldn’t need to rehire . But of course it’s to bring someone in on a salary cut