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Thursday, May 14, 2009

The Layoff Spectrum - No One Spared

Layoffs are here, and they're here to stay. The surprising thing is how many supposedly (at least to me) well-performing companies are also having to lay off staff.

Nike - Nike is doing very well, thank you, with their stable of highly paid stars selling the socks off the competition. Really, how many other shoe ads do you see nowadays? And Nike is better positioned than most, since it is highly diversified throughout the sports arena - shoes, clothes, sports equipment (rackets, balls, bats), related gear.
It doesn't matter. Nike is laying off 5% of their global staff. And surprisingly, the jobs are not just mostly in the higher-wage countries - China is coming in for a high proportion of manufacturing job losses.

Miami Heat - The Heat were not expected to compete this year... or get any audience worth mentioning. But an MVP-caliber year by the NBA's scoring leader (Dwayne Wade), two highly touted rookies, and a surprise 5th seed in the playoffs capped by a 7-game first round series boosted the Heat's revenues well beyond any reasonable projections.
No matter - the Heat are also going through a round of layoffs.

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