www.oregonlive.com/business/2024/06/nike-stock-has-worst-day-on-record-wiping-out-28-billion-in-value.html?outputType=amp
Nike stock has worst day on record, wiping out $28 billion in value
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Sounds like grounds to fire a crappy joke of a CEO.
Edit: I see the Nike down vote brigade has arrived. You got no power here you swooshbags!
They need leadership change in a big way. But…with how they have been doing over the past few years, Nike would likely double down with even worse leadership.
I’ve interviewed at Nike a lot over the years for various contracts, and the one takeaway I’ve had is the upper management is extremely cliquish and insular. Frankly, that’s extremely common at the majority of companies, but Nike has a particularly egregious reputation for it.
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7d
I worked there for eight years, fuck the executives so hard. They're the worst part of the company and add absolutely nothing of value. They change every few years only to make work harder for everyone, lay off talented employees, then rename a few buildings while rolling around in piles of money. Pretty much everyone above Sr. Director is a piece of shit idiot with an ego the size of the moon.
Work there is done in spite of them, not because of them. One of the biggest reasons I quit.
Do tell…? I have an acquaintance who has worked with them as an executive coach and is a complete corporate zealot, so I never get the full picture.
This could describe the executive team at any company.
💯 my experience was the same
sociopaths at levels of leadership rungs below exec. It’s straight up hunger games in the berm now
I know several people who work there and they tell me the same thing. One guy worked in the innovation kitchen which is like the top of the pyramid when it comes to design/creative stuff and he said the people pretty much all narcissists who'd stab each other in the back constantly. Makes sense when it comes to "creatives", but my buddies partner works in like data analytics and says it's pretty similar. It's like high school mentality in a corporate setting for immature self absorbed people with low emotional intelligence and empathy.
It’s so true!
I had a friend in the timing department when they were testing a new piece of equipment. She is not athletic, but she happen to get it at a time where she was going through a more active stage and they hadn’t adjusted for hand motions yet. The company announced that the person that with the most steps Would win a weekend trip to the London Olympics.
My dear friend, who is still one of the nicest people I’ve ever known, and who had two small children with no family around, who never got to take trips because she and her husband were stretched thin financially due to his experimental work, won.
Here’s the immature, high school part: after she won, which was announced at the Christmas party, I believe, multiple people strolled by to quietly tell her that they could have won if they had really wanted to. Ghouls.
Experimental work ?
Is that what I wrote? Weird. He was a chef and trying to break into the high end scene, but with a family it was unsustainable and he had to take quite a paycut, and his creative outlet became experimental music.
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7d
I would read a book of accounts like this for hours.. might be something there?
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No I get ya, but even under anonymity, these tales of highly branded corporations are fascinating
It really becomes a magnet for the worst flavors of ambition. I think it happens to any brand or company that gets to a certain level of prestige. It doesn't help that the most succesful corporations are fundamentally sociopathic entities, and select for leaders with similar traits.
For sure, when you're more focused on selling an image than creating useful products, that's bound to attract quite the crowd!
Thanks for posting
I wish you'd have to pass some sort of psych test to get into these positions. It's always those who crave power that get them, and its never enough
every large mature publicly traded corporation is fundamentally the same way
We call them swooshbags
It's cliquish in every level higher up than individual contributor, in my experience
Same at adidas and most other sports companies, make no mistake and it goes like this til they throw basically everyone out and start again.
My hubs works there. What do you do? He finds it difficult to fill his jobs. (Not an offer. 😉 I have no influence ) Still.
If your hubs is looking for data analysts I’ll happily apply :)
I will ask. Nike did just layoff 1/4 of its workforce so they prob aren't hiring. Are you local to Portland? If so, pm me here and I'll be able to find you if jobs open up again. Mind you, I don't know what they're calling their ppl. "Analyst" is a pretty generic term.
The whole company is this way. They never really changed after their culture shakeup a several years back.
Nike has been king for a long time. There are several also good growing brands out there eating away at their market share.
Let em. Tank the brand at this point if they want to double down on dumb dumbs.
All you need to succeed as an executive at Nike is be a washed up athlete, look good in athleisure, and have a complete lack of common sense and professional ethics. A distain for women is a bonus.
More shitty jersey designs!
Nah, more layoffs should do the trick /s
Most Nike people don't like the CEO...
Nike is based out of Beaverton, Oregon. It's right next to Portland.
It's not just me as I've heard random people at bars and other public areas say the same thing...
Lots of people who work for Nike are complete assholes. They are stuck up and have a 'holier than thou' attitude.
I've tried to date several Nike employees and every single one was boring, stuck up, and expected the world to bow down to them. It's a mirror of their corporate culture.
Not all Nike employees are like this, but enough to have a bad reputation in Portland and live up to it.
I worked at a school with lots of Nike parents. They were absolutely awful, arrogant, assholes. The worst parents I’ve ever dealt with.
most of the nike employees i know are like that - they are just people who happen to work for an asshole brand.
Why did you keep trying after the first or second one?
1 is nothing.
2 is a coincidence.
3 is a pattern.
I stopped after 3.
This is acceptable. I trust you then promptly moved onto Adidas.
Because they were probably fit and good looking. 😉
i dont get the emoji
Not all of them.
I’ve never met a single Nike employee who wasn’t nice and I know many.
That's great!
Swooshbags!
Swooshbags. Classic, haven’t heard that before, and I live in the land of nike
I’m going to start calling people swooshbags now
How can the Nike that exists now be the same one that existed in the mid 90s. They went from tastemakers to out of touch try-hards like… overnight.
How can the Blizzard that exists now be the same one that existed in the early 00s?
Sounds like grounds to increase the CEO's pay to $42 Million. That will surely solve the issue! /s
swooshbags
😂😂😂
Those same CEOs approved of Salazar and his coaching style. Let’s not forget about Nike doping their runners. Yea, it wasn’t the weird pork burrito that got Shelby Houlihan in trouble. Besides, anyone that’s anyone in Beaverton goes to El Jeffe for Mexican. That half chicken is bomb AF.
Snowflakes are sensitive. Watch my downvotes for this comment.