No surprise there if they’ve been a purpose in themselves all along. Letting go of talent, not having an idea what to actually do with a leaner company, not having an efficient reorg, having a lot of downtime or people overworked (to what end, if I may ask?), all spells a disaster. When you do cuts, you should already have an idea what you want to do with the company immediately afterwards. Having them for sh--s and giggles, in a futile attempt to bump up the stock for at least a couple of hours, is a gross mismanagement.
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This is comedy....as someone who was laid off in 2018...I find this all comedy. All these DEI hires... all this neoptism... all the as s kissers moving up and now all this S coming home to roost. It's pure comedy. Saw an old VP in line for something last weekend... said they needed to bring him back to save the place. This guy was high up... laid off I think too or golden parachute. He was just like... 'it's a real shame' what's going on out there.
Ya'll need to get to work and be in the office 5 days a week! No more parties, no more summer hours. Get to work ya slaves!
As a shareholder.... i suggest you get to work! /s
Couldn’t have said it better. We all got laid off and the people left behind are utterly lost as to what their goals are. No defined plan. No defined work. Everyone worried there will be more layoffs. The stock sh-t the bed. Sounds like a very well laid out plan, forecasting and planning. Nope.
And the whole layoff process was so drawn out and demoralizing that the people still there all want to quit. Everyone I've talked to all are planning to do the minimum until they can find something else. And that could take years! So yeah this whole thing was a big cluster for Nike.