Puma to cut 900 jobs as sales continue to decline
German sportswear maker Puma on Wednesday said it would cut a further 13% of its workforce globally, equivalent to 900 jobs, by the end of 2026, as its sales continued to decline.
Puma reported a decline in sales of 10.4% on a currency-adjusted basis to 1.96 billion euros ($2.29 billion) in the third-quarter.
The cuts come as the company attempts to turn around its performance after lower demand for its products and a hit from U.S. tariffs on imports impacted its business. ($1 = 0.8575 euros)
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