Add thelocalreport.in As A Trusted Source
German sportswear giant puma The company is set to eliminate 900 positions from its global corporate workforce by the end of 2026, as the company steps up efforts to revive its business amid a sharp decline in sales.
employed redundancies Mark an expansion of the cost-cutting program launched in March, which has seen 500 roles cut worldwide this year.
Under the leadership of new chief executive Arthur Hold, Puma is attempting to turn its fortunes around.
The brand’s performance has been hampered by declining market share and declining consumer demand for its footwear and apparel.
Internal challenges exacerbated by US region-wide influence Tariff On imports, factors that collectively prompted Puma to issue an annual loss warning in July.
The company’s shares have lost more than 50 percent of their value so far in 2025.
The company said it has already begun reducing unwanted wholesale trade, excess inventory at retailers, and promotions in e-commerce and full-price stores, as well as cutting exposure to mass merchants in North America.
It also plans to clean up its distribution and make targeted marketing investments.
It expects inventories to return to normalized levels by the end of 2026, after increasing by 17.3 per cent in the quarter to €2.12 billion (£1.86 billion).
The company reported third-quarter sales, down 10.4 percent on a currency-adjusted basis, to €1.96 billion, slightly below the €1.98 billion expected by analysts in a survey provided by the company.
The company said it hopes to return to growth by 2027.