7%! That’s a lot of people! Nike BS’d that it was only going to be a 2% layoff. Ouch!
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Several people in the know have been commenting on this. The actual number thus far laid off is +2k.
It’s been smoke and mirrors with that ja----s JD for years.
“The problem here is you’re not looking at this from a leadership and management perspective.”
@ubh
The problem here is that leadership and management doesn’t have perspective.
YoY attrition is like 20% in corporate and 60% in retail. quit trying to make it out like they are trying to dodge labor laws or something.
@ubh+1uT86U9Q Yeah OK. The company was laying off people as early as October 2023 and still continues to lay off people through this day. All this is out of the usual attrition that any company sees in a given year. There was a target headcount reduction, and very few companies are upfront about what this is going to be for multiple reasons. Sometimes it is understated so there isn’t a market panic or a employee drop in morale. And sometimes it is overstated so Wall Street things that they are being more aggressive than they can actually be. I have seen companies say they are going to layoff 5K people but then allow most of those people to be moved into other jobs or give those people a long window to find a new role. So yes if the math says it’s 7% it is very plausible that JD lied.
The problem here is you’re not looking at this from a leadership and management perspective. The layoffs are only one mechanism. When people naturally leave the company through attrition you just don’t backfill particular roles and you gain that productivity. This is how you get to reduction and workforce greater than the layoff amount.
Nothing complicated or shady going on with it. There is also much to be said about how long it takes to hire backfills so depending on the point in time that you pull your metrics, it could be during a period where there was a lot of exits. It generally takes time to hire. If a bunch of people left after PSP dropped then what you would see right now is a big gap in those roles that are in the interview process or have yet to be filled. It really skews the numbers.
Care to share your math?