Nike Reveals Plans for Mass Salary Increases

The company aims to tackle the “pay equity” issue.

By
Fashion
25,922 Hypes 25 Comments

As CNBC reports, Nike has revealed plans to raise the salaries of 7,000 employees and modify the existing bonus system. Notably, the global brand hopes the changes will help them tackle the “concerns about pay equity” and “support a culture in which employees feel included and empowered.” Nike decided upon these changes following the completion of a recent “internal review of pay practices.” Altogether, around 10 percent of Nike employees are set to “receive adjustments to their pay ensure equal and competitive compensation for the same job functions around the world.” For bonuses, Nike will now determine them based on “company-wide performance” starting in fiscal year 2019. In the past, the company’s CEO has had to publicly apologize for Nike’s “toxic corporate culture.”

“With movement of internal talent, and the demands of a dynamic market, we analyze pay each year. This year, we have conducted a deeper analysis of all roles, at all levels globally,” reads a quote from an internal Nike memo said.

Last month, Nike posted stronger-than-expected results for 2018.

Read Full Article
Source
Cnbc
Share this article
In This Article

What to Read Next

Okewa's Recycled Rainwear Capsule Merges Sustainability & Contemporary Fashion
Fashion

Okewa's Recycled Rainwear Capsule Merges Sustainability & Contemporary Fashion

Outerwear created using 100% recycled plastic bottles.

Oneohtrix Point Never Drops Videos for “The Station” & “We’ll Take It”
Music

Oneohtrix Point Never Drops Videos for “The Station” & “We’ll Take It”

Ahead of Friday’s ‘The Station’ EP.

Caleb Brown Drops 'Brown' EP, Releases "American Bulldozer" Video
Music

Caleb Brown Drops 'Brown' EP, Releases "American Bulldozer" Video

The project is executively produced by Sonny Digital.


Tyler, The Creator Reveals a Once-Private Instagram Account With 200+ 'Flower Boy' Posts
Music

Tyler, The Creator Reveals a Once-Private Instagram Account With 200+ 'Flower Boy' Posts

He secretly documented the LP’s creation for over a year.

Hasbro & Alpha Industries Unite for 'Bumblebee'-Inspired Flight Jacket
Fashion

Hasbro & Alpha Industries Unite for 'Bumblebee'-Inspired Flight Jacket

Dropping ahead of the new ‘Transformers’ spin-off film.

Virgil Abloh Challenges Anna Wintour in This Week's Footwear Drops
Footwear 

Virgil Abloh Challenges Anna Wintour in This Week's Footwear Drops

This week will also see a capsule from WTAPS & Vans Vault, as well as a special A Kind of Guise x adidas UltraBOOST.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. By adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.