Nike Ends Wellness Week Initiative Amid Company Restructuring

By Kim BhasinNike Inc. has ended an initiative that gave employees an extra week off each year to promote mental health and wellness.Nike’s annual “Wellness Week,” which started in 2021, had been held each August, with the world’s largest sportswear company powering down its corporate headquarters in Beaverton, Oregon, to give staff more time to unwind.Chief People Officer Treasure Heinle told staff this week that the program was instituted as the world endured Covid-19, but the company is now in a “pivotal moment” that requires changes in how employees approach their work, according to a replay of the meeting reviewed by Bloomberg News.“Today is very different than a few years ago,” Heinle told them. “And that’s why we’re making this change.”Also ReadEster-Loop JV signs pact with Nike for supply of sustainable materialRunning for top spot, Japan's ASICS eyes Nike and Adidas' turf in IndiapremiumNike to cut China output by 2026 as Trump tariffs threaten $1 billion hitStock Market LIVE: Sensex down 250 pts, Nifty below 25,800; Early Bihar poll results limit downsideVerizon weighs up to 20,000 layoffs as new CEO Dan Schulman takes chargePerks like Wellness Week emerged at Nike, Spotify Inc. and other organisations during the pandemic as Americans struggled to cope with the strain of lockdowns, social isolation and fear of getting sick.Therapists surveyed by the American Psychological Association in 2021 reported a surge in demand for treatment of anxiety, depression and stress-related disorders, and the US Surgeon General issued guidelines on workplace wellbeing.As the pandemic retreated, however, companies have rolled back many of these mental health initiatives.Nike Chief Executive Officer Elliott Hill has been reorganizing the retailer since coming out of retirement to take the top job last year, restructuring management and teams throughout the company. He’s trying to lead a turnaround by refocusing Nike on sports such as running and basketball.“It’s a moment that will require continued shifts from all of us in how we work, how we collaborate, and how we operate as a team,” Heinle said in the meeting, which included staff from both corporate and stores. “We need to continue to show up and deliver with a sharp focus so we can get back to winning.”Nike expects sales to decline in the low-single digits this quarter, in line with Wall Street’s expectations. Its stock has fallen nearly 13% this year through Thursday’s close.