Hello, is anyone willing to share how were the severance packages given in the Netherlands during previous layoff? Were they more than the standard required by Dutch law? (1/3 of salary for each year worked at the company)?
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1/3 of monthly salary…so if you’ve been with Nike for 3 years you’ll get 2 months pay for severance. Minus taxes.
That’s absolutely terrible severance. You’d need to have another job lined up the next day.
However it’s coming in NL to have ‘garden leave’, where you are employed for another three months but don’t have sent duties.
Hopefully Nike would follow that.
Hello everyone,
I'm the OP. By law, in the Netherlands its 1/3 of MONTHLY salary for each year you worked for the company. So it's really nothing.
To the person who asked "Which Country, there are more than 30 in EMEA". Well, I specified "Dutch Law" so I meant the Netherlands...
But also curious in general if Nike gives the minimum by law in each Country, and, if not, how generous it is in comparison to the minimum.
etw here waiting for the EMEA layoffs eating popcorn, this time hope to see some of the leeches man/dir nuked in GT. Can't explain how these people are still around
Not a millionaire: This (Dutch) severance pay is a 1/3 of the gross monthly salary for every year of service. It's currently capped at €89,000 gross or the employee's full year's salary, whichever is higher. (online HR source).
I guess with emea you mean europe? Which of the 30+ countries that make up Europe do you mean?
If it's one third of the monthly for each year, that's about 1.4 weeks of pay for each year of service is the minimum required by law.
From what I've read in other threads, Nike has been more generous than that in the United States in the past and I would guess that they'll be equally generous in EMEA, but I don't have any data re previous EMEA layoffs.
You each will get two million dollars and 3 pairs of shoes
As usual Europe does it right whereas in America the workers get treated like garbage.
You will get one million dollars each. And a new pair of shoes.
Employees are entitled to it if either the employer initiated the termination, or in the case of a fixed-term contract, decided not to extend it. The only exception is if they did so due to seriously culpable employee actions. This severance pay is a 1/3 of the gross MONTHLY salary for every year of service.
1/3 of your salary per year worked? Wow! That’s extremely generous. I’m not against it. Just saying that for someone who has been at the company awhile that could easily turn a person into a millionaire.
1 milion minimum
Expect the standard as required by Dutch law.
@ndc - not to expect more out of 450 million dollars? Is it reserved only to leadership team or senior management ?
Don’t expect more.
No layoff in EMEA until FY24!