So maybe we will end up with 6k employees in PHK. 1/2 current size.
and may be another 5k in Benguluru campus -> 10x growth
12 replies (most recent on top)
@q5 actually adidas just laid off a bunch of people this week so help us all.
Maybe we’ll be able to sublease some of the empty buildings to adidas to keep the lights on. They’re growing.
Make India great again
For the night is dark and full of terrors my lord
@d5 doubtful seeing as the investment is decentralize,
India won. Nike is going to fail anywhere
fewer*
I was wondering if it is world wide like lay offs in GC maybe? So not all impacting PHK.
There's absolutely a plan under the surface for Tech. Oh, yes. We know this because many other companies have executed on this exact playbook: Keep 10% of Tech onshore (strategy and architecture) and send everything else to India and Poland. Except Poland's become too expensive for Nike. Imagine that!
C'mon big brain time people. 1b is a lot and you have to understand what is under the surface. Put your dum--ss impotent leader hat on and walk with me.
1b in total severance following patterns would be somewhere in the realm of 4-7k hc. That likely would be across every location and job family in the company based on what we know.
300m in calendar 27 is comparable to what GT endured in fiscal 26. Spread out globally and in phases it will skate around warn and is presumed to continue over the next several years as the SEC filing indicates. That is the important part.
What does this grant a dum--ss impotent leader? FLEXIBILITY. PACE is an appeasement and restructuring tactic not a business strategy. 1b funds will be used for anything from scaling ITC to real estate to layoffs to maybe nothing at all or slide into a new strategy altogether. They gave themselves a FAR TIME HORIZON because they are clueless fools who couldn't strategize out of a box and are prioritizing seeing and reacting over planning. When Venky says high level over and over believe him. There is no plan under the surface yet.
This site gives too much credit to these people. There is a reason we are here.
How many in phk in the first place?
$1B in reorg and layoff costs is a lot of headcount, but it's not THAT much headcount.