Do we still get the bonus if we were let go?
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EDITED In real terms, Nike is shrinking. The "3 or 4% growth" is strictly nominal.
In the US, for example, the M2 Money supply has increased by over 30% since 2020. In China, the M2 Money supply has increased by over 50% since 2020.
Take whatever market and whatever segment you want, but if 5-year "growth" hasn't eclipsed the M2 Money Supply in that same time frame, what you are witnessing isn't real growth. It's inflation, or the same or fewer transactions at higher price points, even as the intrinsic value of those transactions is equivalent or lower.
In other words, Nike's "growth" has been a mirage of money-printing. Evidence of this comes in the form of a shrinking workforce - hence layoffs.
And because Nike is shrinking in real terms, more and bigger layoffs in the coming years are a certainty.
In real terms, Nike is shrinking. The "3 or 4% growth" is strictly nominal.
In the US, for example, the M2 Money supply has increased by over 30% since 2000. In China, the M2 Money supply has increased by over 50% since 2000.
Take whatever market and whatever segment you want, but if 5-year "growth" hasn't eclipsed the M2 Money Supply in that same time frame, what you are witnessing isn't real growth. It's inflation, or the same or fewer transactions at higher price points, even as the intrinsic value of those transactions is equivalent or lower.
In other words, Nike's "growth" has been a mirage of money-printing. Evidence of this comes in the form of a shrinking workforce - hence layoffs.
And because Nike is shrinking in real terms, more and bigger layoffs in the coming years are a certainty.
“ You’ll have to still be on payroll past June 1st to be eligible for a bonus, hence why the layoffs cut off end of May”
False. Laid off employees are told they’ll get psp. Phase 1 and 2
Everyone impacted will receive a psp bonus.
Eligible: Yes
Bonus: unlikely or small
Why? 33 days to hit that revised target. 🥬 🙏
You’ll have to still be on payroll past June 1st to be eligible for a bonus, hence why the layoffs cut off end of May
I've been with Nike for nearly 15 years. In all that time, the company has never failed to provide a bonus. The question is how much of a percentage the bonus will end up being?
For all the doom and gloom, Nike is making record amounts of revenue and profit right now. More than $50 billion per year, with healthy margins. The issue for the stock is that the growth rate of the revenue is not as high as it has been in the past. But still, 3 or 4% growth on $50 billion is still growth and the company is not having a bad fiscal year. However, that's not enough for our short sighted consultant-brained leadership. If they can't squeeze more revenue from consumers, they'll increase profit margin by trimming expenses via layoffs (which usually proves to be detrimental in the long run in terms of talent drain and decreased productivity due to low morale). My point is that just because we are doing misguided and hurtful layoffs doesn't mean that the company isn't performing well enough to pay out bonuses. And yes, those that were laid off this week will get bonuses with the rest of us.
Ask HR if you haven’t already during your exit call you dummy
minimum thresholds for bonuses have been met, but doesn't mean they 100% will give bonus. Majority opinion is putting it around last layoff's post bonus of ~80%
Not unless you were let go before May 31, this has been a repeated question
Yes, we will know more once PSP is announced at end of Q4.
that was part of the severance. but my spidey senses feel like they knew were werent bonusing this year.
Yes as you will be on payroll until end of year
Yes if Nike gives Bonus this year