Dylan Mulvaney’s sports bra and leggings backlash has finally hit Nike with massive LAYOFFS and a $9 billion dollar reduction in their stock price. Woke Nike is laying off approximately 2% of its workforce, about 1,600 jobs.
“This is a painful reality and not one that I take lightly,” said John Donahoe, president and CEO, in the email. “We are not currently performing at our best, and I ultimately hold myself and my leadership team accountable.”
Donahoe said the first round of layoffs will start Friday and go through next week, while the next round will be complete by the end of May.
Nike is one of the region’s largest employers, with more than 15,500 workers in the Portland and Southwest Washington area — and around 83,000 people worldwide, as of May 2023. In December, the company announced a $2 billion cost-cutting and restructuring strategy, signaling that there may be layoffs.
It’s likely that most of the layoffs will be at the company’s Beaverton headquarters. Donahoe said in the email that the cutbacks will not impact store employees, store managers or distribution center workers.
“Nike has a proud history where the most challenging moments bring out the best in us, individually and as a team,” Donahoe said. “I know we will come together to respond once again, and I am confident in our future.”
Jana Panfilio worked at Nike for over 29 years, and after leaving, she co-created a group for past Nike employees called 6453 Alumni. Panfilio said she hopes she can be a resource for those laid off by Nike.
“We are here to support as a landing place for those people as they leave the brand to make their transition from Nike to next,” said Panfilio.
Panfilio said that the 6453 Alumni group will connect those laid offs with other Nike alumni in various fields.
“There is a disproportionate number of former Nike people that start their own companies. They are looking for talent and they are looking for clients. So depending on what it is they are looking to do or what kind of help that they need, we have the resources to help them,” Panfilio said.
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