Red State Reports: It was just over a year ago that we witnessed one of the biggest self-induced corporate fiascos ever when Anheuser-Busch engaged in a promotional campaign with trans-influencer Dylan Mulvaney.

While this led to easily the biggest plummet of a brand in the beer industry - as well as in the corporate spectrum - surprisingly another global entity was making the exact same mistake but managed to avoid that level of public outrage. 

Nike has to be grateful that the beer backlash was so loud and widespread that its own involvement with Mulvaney at nearly the same time was overshadowed, though not entirely ignored. People and journalists became fascinated with the downfall of the beer brand, as it dominated news coverage for months, but Nike was not entirely unscathed.

Calls to avoid the brand as well were heard, and while the outrage may not have been so loud the ramifications were still felt. The reason is that the company has been caught up in the virtue-signaling craze but fell prey to the shortsightedness of these efforts.

The company has backed the likes of Colin Kaepernick, and frequently is vocal on other social issues, but it could very well be a case of the company being so monolithic that when it absorbs strong economic hits it is able to weather the challenge before moving on. Well, currently it is experiencing inclement weather.

The apparel company is enduring enough hardships that it is in the process of laying off a significant amount of its workforce. One thousand six hundred jobs are in the process of being shorn, all in an effort to cut $2 billion in operating expenses.