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Puma announces 900 job cuts worldwide amid sales decline
The move forms part of Puma’s broader effort to stabilise its financial performance amid weakened consumer demand and the impact of U.S. tariffs on imports, which have dented profitability.
The move forms part of Puma’s broader effort to stabilise its financial performance amid weakened consumer demand and the impact of U.S. tariffs on imports, which have dented profitability.
German sportswear giant Puma has announced plans to cut 13% of its global workforce, equivalent to around 900 jobs, by the end of 2026, following a continued slump in sales.
The company reported a 10.4% decline in third-quarter sales on a currency-adjusted basis, bringing total revenue down to €1.96 billion ($2.29 billion), as reported by Reuters.
The move forms part of Puma’s broader effort to stabilise its financial performance amid weakened consumer demand and the impact of U.S. tariffs on imports, which have dented profitability.
The restructuring is expected to help the company streamline operations, reduce costs, and refocus its resources on high-performing markets and product segments as it seeks to restore growth in a highly competitive sportswear sector.
Tech giant Amazon has been the most recent one to cut jobs globally. As many as 14,000 layoffs took place due to company restructuring. Amazon Chief Executive Officer Andy Jassy recently defended the company’s decision to cut nearly 14,000 corporate jobs, insisting the move was driven by cultural, not financial or technological, considerations.
Another company to layoff employees is General Motors. General Motors (GM) has laid off more than 200 salaried employees, most of them Computer-Aided Design (CAD) engineers, as part of its latest restructuring effort aimed at improving profitability. The cuts were made at the company’s global technical centre in Warren, Michigan, and affected staff were informed of their termination during Microsoft Teams calls held on Friday morning.
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