Under Armour is preparing to layoff an unspecified number of employees following a drop in sales.
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Under Armour Announces Layoffs, 25% SKU Reduction https://lnkd.in/gJ38SRyJ Under Armour, the well-known sports apparel company, has recently disclosed plans to downsize its workforce through employee layoffs. Additionally, the company intends to optimize its product line by implementing a 25% reduction in stock-keeping units (SKUs), reflecting a strategic shift in its business operations. #underarmour #layoffs #businessstrategy Global Retail Outlook Magazine
Under Armour Announces Layoffs, 25% SKU Reduction
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Am I being laid off this year? Jan/Feb 2024 (North Carolina) 1️⃣ Hanesbrands to close North Carolina distribution center, lay off 150. 2️⃣ Wire manufacturer to close North Carolina facility, lay off 100. 3️⃣ Gelatin maker to close North Carolina facility, lay off 68. 4️⃣ WestRock to close North Carolina packaging facility, lay off more than 150. Big company doesn't mean protection. Why do layoffs happen? ⭐️ Mergers and buyouts - unit merges with another unit ⭐️ Employee redundancies - machine automation ⭐️ Relocation ⭐️ Outsourcing - contractors/temp on-site ⭐️ Corporate greed - According to a survey by CNBC, 50% of workers say that their companies are understaffed. Did you happen to notice any changes taking place at your facility recently? Such as a new schedule, new managers, or new plans? Are you sure that's good news for you?
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COO at The Virtual Connexion ❂Advisor to SMEs ❂ Local and International Consulting ❂ Mentor to C-Suite Leaders ❂ Staffing Requirements ❂ Talent Assessment ❂ Start-ups
Another round of major layoffs.... My buddy, Sharon Tan, shares the same sentiments as I do about the 2 biggest assets in a company - People and Cash. And People make the Cash flow into the company. You need both to survive. You need both to grow. She then shared an article about with me that Goodyear was planning to close their manufacturing plant in Shah Alam on June 30th 2024 and total closure was expected by end of this year. The company has embarked on a specific programme "to deliver annualised cost reductions of $1.0 billion by 2025, in order to remain competitive and positioned as an industry leader" I also recently met up with a a long-serving employee from Maxis who had been retrenched in January this year. Along with 500 other colleagues of his in a Mutual Separation Scheme (MSS). To my trained ears and probably yours had you been with me, it did not sound mutual at all. According to sources, 50% of those laid off came from the Enterprise Segment division. And there's more on the horizon. Is it any wonder that Izzat Khiruddin and I get asked the same questions by prospective candidates for senior positions: ✳️Are there any plans to take over any other business? ✳️How rapidly does this company plan to grow? ✳️Are they merging with anyone else? ✳️Am I being called in for restructuring? People have a negative view of large entities - because they are all made to feel very dispensable. Even if they are the favoured child of today, a downturn tomorrow will see them discarded to maintain the returns at the same high level. We need to get it right. We can make one mistake and justify a layoff exercise. But when we make multiple mistakes and rectify these repeatedly with massive staff cuts, our reputation will suffer. Terribly. Can something be done to minimise layoffs?
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Stop the slump. Helping you perform with unshakable confidence under pressure. | Keynote speaker | The off-brand Nick Offerman
How can you tell if layoffs are around the corner? There are some signals to look for. Subtle signals: 1. Frequent leadership changes 2. Quiet downsizing in other divisions 3. A sudden drop in company share price Not-so-subtle signals: 1. Hiring freezes 2. Cost cutting initiatives 3. Consistently excluded from necessary meetings. I don't recommend jumping ship based on only one of these signals. It might be a conservative period for the company. But if you notice multiple signals then it's time to prep the lifeboat. What signals did I leave out?
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New challenges faced by outdoor retail giant, REI. Featured in this The Daily by Outdoor Retailer article, the company anticipates a decline in 2024 revenue, leading to another round of layoffs. Following a tough Q4, REI is making strategic adjustments to stabilize costs and position itself for long-term success. It's a reminder of the resilience needed in today's business landscape, and I'm hopeful for REI's ability to overcome these hurdles so they can protect the rest of the employees. To those affected by the layoffs at REI, my thoughts are with you during this uncertain time. #REI #BusinessResilience #OutdoorIndustry 🏞️
REI Co-op announced layoffs for hundreds of employees, with CEO Eric Artz warning of a “very challenging” 2024 and citing a “highly promotional” environment. #outdoorindustry
REI Lays Off 357, CEO Forecasts Down Year
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Ahh, the ups and downs of the trucking business. This "downcycle" has been longer and more brutal than many have expected. On Stay In Your Lane this week we have two veterans of the industry: Glenn Koepke of Vector, and everyone's favorite, Joe Lombardo, founder of Ege Avenue Accociates. They each share tactics for sustaining it through the tough times. Brought to you by Triple T Transport, a 100% Employee Owned Company. #bankrupcty #ceaseoperations #financials #value #operatingcosts #owneroperators #trucking #leverage #cashflow
Widespread layoffs continue to plague the transport field in times of high volatility. What can managers do to mitigate risks and keep their teams intact? Glenn Koepke from Vector and industry veteran Joe Lombardo are back with practical strategies for maintaining profits through these difficult times. With Host John Mahle #Layoffs #Employment #Shipping #Transportation #Freight #Logistics #Trucking #Trucker #3PL
Rise Above Transport Market Volatility
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RumbleOn stock has taken a beating over the last month. Yesterday I received multiple messages from employees who had just been redeployed to the work force. Some of these people have talent, so the cuts aren't just superficial. There are also discussions of impending store closures. The powersports industry has been great to me, and I don't wish ill will on anyone. All of these employees have lives, families, and futures. An unexpected layoff can be a traumatic event that takes a long time to recover from. That being said, ever since I started publishing commentary about the industry, I've always maintained my stance that powersports dealers shouldn't be publicly owned. The majority of the products we sell aren't necessities, and "trying harder" isn't always the solution that will help to improve sales. Being at the whim of quarterly shareholder reports is in direct conflict with the long term planning that drives generational results. I've worked with many dealers through the buyout process. Starting from scratch, it typically takes 3-4 years to assemble a high performance team. There is no shortcut. Now that some of these locations will be making deep cuts, they'll lose the talent that ultimately will help them once the market starts to recover. Short term decisions will now lock in lower performance for a longer period of time. Knowing what I know today, my choice would always be to work for a well-run family owned operation. Maybe there is less opportunity for career advancement, but being able to talk to the owner is a nice benefit, and not being concerned about an unexepected layoff just because the suits on wall street are not happy is a great job benefit. If you have been impacted by these layoffs, what's your next step? #Powersports #RMBL #RumbleOn #Layoffs
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When I read that the layoffs were due to a reduction in boat sales I was not shocked. The price of skiffs, bass boats are near prices of sedan and weekenders that have more options. I do agree material prices are higher yet they are not reflected in the wholesale price. workforce cost have increased however not much at the line employee level. These prices could have been mitigated earlier to increase sales. Mercury has proven you don't need two 200+ motors for the average consumer. It's time to develop better practices with boat manufacturers that provide affordable options, that address the need of the consumer that ultimately attracts new buyers. https://lnkd.in/eqMgbKDd
Mercury Marine layoffs announced
fox11online.com
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Aspiring software engineer | writer | Computational Thinker | Seeking internship opportunities || Polymath | SETI advocate
Several prominent companies in Corporate America have begun the year with substantial layoffs. Last month, announcements revealed plans to cut 82,307 positions, marking a 136% increase from December and the second-highest number of layoffs in January since the aftermath of the financial crisis in 2009, as reported by Challenger, Gray, and Christmas. Reasons for these cuts, which have extended into February, include companies scaling back after excessive hiring during the pandemic and reallocating resources by trimming certain areas to prioritize investments in others, such as artificial intelligence. #CorporateAmerica #layoffs #ChallengerGrayandChristmas #employment #financialcrisis #pandemic #restructuring #investment #ArtificialIntelligence
Nike Joins Growing List of US Companies Doing Large Layoffs
bloomberg.com
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Some of the biggest names in Corporate America have kicked off the year with large layoffs. Companies announced plans to cut 82,307 positions last month, up 136% from December and the second-most of any in January since the aftermath of the financial crisis in 2009, according to Challenger, Gray, and Christmas. Among the reasons for the cuts, which continued in February, companies are dialing back after over-hiring during the pandemic and trimming certain areas to invest in others, such as artificial intelligence. Here’s a list of some of the large layoffs announced in 2024.
Nike Joins Growing List of US Companies Doing Large Layoffs
bloomberg.com
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