Menu
People and Pop Culture

Nike Bonuses Expanded Despite Losses Due To COVID-19

For Nike's 12,000 Portland-area employees, last Friday "brought an old and beloved" Nike tradition, annual bonus day, when "thousands of qualifying employees can receive 5% to 30% of their annual pay in one lump sum," according to Jeff Manning of the Portland OREGONIAN. With many Nike employees "pulling down six-figure salaries," the annual bonuses "commonly amount to $10,000-$15,000." Manning notes the bonuses are paid in "cash." This year's annual bonus day was "like no other," as in a normal year, these "so-called Performance Sharing Plan (PSP) bonuses are predicated on the company meeting profitability goals." But COVID-19 "derailed Nike’s momentum" and it lost $790M in its Q4. So company leadership "decided to jettison the normal formula and award 100% of the bonus to all eligible employees." One employee characterized it as a "goodwill gesture" from CEO JOHN DONAHOE. Nike in its annual proxy statement said the goal was to "reward strong pre-pandemic performance and to ensure sustained employee engagement and retention" (Portland OREGONIAN, 8/19).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/2020/08/19/People-and-Pop-Culture/Nike-Bonuses.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/2020/08/19/People-and-Pop-Culture/Nike-Bonuses.aspx

CLOSE