Thread regarding Nike Inc. layoffs

I was let go in April, which was heartbreaking. I didn't expect to be affected, but unfortunately, I was. It's tough to hear that "the grass is greener elsewhere" when so many of us from Nike and other companies were let go in a short period, flooding the job market with talent. I've been actively seeking a new job, but haven't had success yet. While I'm hopeful that my luck will change soon, the uncertainty is challenging.

I am just imagining a council with all the people here in the comments lol including the angry, sad, hopeful etc. just all together I’m sure if everyone dealing with shortsighted managers and stuff could get together the negativity would surely turned into something more easygoing. What could be the name of this council?

Those golden hand cuffs are quickly turning silver. A narcissistic work culture creates victims and bully’s, with a major power imbalance. Nike has over played this hand and the chickens have come home to roost. The narcissist ELTs will cost you your mental health, before they discard you…

The total compensation conversation needs to be put in context, of which, your perception on the stock plays a key role. Given the slowing revenue growth and flat volumes, I'm of the opinion the stock will not be a major mover for many years. Some of this opinion is also due to the rise in consumer adoption of competitors product and the changing brand loyalty landscape for those under 40. Much of the previous total compensation conversation was due to the fact that if you had stock options or ESPP, the input into your total comp was significant (not to mention the now cancelled profit sharing into your retirement). Minus those two things, base pay is equivalent or even higher at some other brands and bonus structure varies.

If you then add in the number of hours you are expected to be working or available to work (speaking from experience with Asia engagement requiring normal M-F business hours and then evenings and Sunday nights) along with PTO (a number of companies now have unlimited PTO), I would actually argue an individuals total compensation (dollars plus work-life balance) is not as clearly in Nike's favor as Nike like's to make it sound.

I left Nike with wave 1, and I'm now making 2x my total cash comp than what i was making at nike (i'm not in tech). so....it is better out there folks

@xhu+1tdvilJk Where did you come from? Tech? Or did you take a demotion since titles are not necessarily parallel to other companies? For the FW/AP industry, nike pays the most. I’ve worked for several of the biggest competitors and I got a $45k increase coming to Nike.

@khz+1tdvilJk For some positions Nike may offer higher pay than others but I just wanted to chime in that prior to joining Nike I was earning 170k and at Nike I am earning 120k.

^^ in response - “golden handcuffs” just refers to benefits/salary offered to FTEs. Comparatively to the market, Nike has had higher pay and better benefits than our competitors. It’s a rough market out there, easier said than done to give it all up.

You can make more money and get better benefits elsewhere. Nike perks are falling behind (and will continue to fall). Update that resume and get to applying.

What are “golden Nike handcuffs?”

You are not a lone. I am exactly in the same boat

Oh and the awful job the coolest design team did for women’s olympic. Just incredibly low and awful and as it’s pointed out on the news signifies the dominant mindset of the company

What’s golden handcuffs? You simply allow them to treat you the way you’re treated. Because of people like you those bully managers think they’re the coolest people working for the coolest company on earth

Those golden handcuffs are a fraction of what they were worth 5-7 years ago. Seems less of a reason to stay.

And at a new gig you can ask to see what they can to do compensate for your current options loss if you leave.