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Nike to raise salaries of over 7,000 employees

By Prachi Singh

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After completing an internal investigation into a survey on sexual harassment and discrimination against women conducted by a group of female Nike employees, the sportswear major has decided to raise salaries of over 7,000 employees, while also deciding to change the way it awarded annual bonuses to its global staff, reports CNBC. Following the investigations into workplace behaviour complaints, almost 11 Nike executives have left the business since March 2018.

According to an internal memo, accessed by CNBC, Nike has announced that about 10 percent of its employees — both men and women — will receive adjustments to their pay to ensure equal and competitive compensation for the same job functions around the world. "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. This benefit program is designed to support a culture in which employees feel included and empowered," the report added quoting Nike memo.

The Wall Street Journal report said that the pay adjustments would commence in August this year and will be annualized over the balance of the company’s fiscal year.

Nike recorded a revenue increase of 13 percent to 9.8 billion dollars in its fourth quarter, which the company said, was driven by strong double-digit revenue growth in international markets and Nike Direct globally, and a return to growth in North America. Diluted earnings per share for the quarter rose 15 percent to 0.69 dollar.

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