Newscasts - Puma cuts 900 jobs and launches business U-turn after sales slump

PUMA SE

30/10/2025 11:35

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Source: 'Reuters - Business videos'

Description: German sportswear maker Puma on Thursday said it would cut 900 jobs in its corporate workforce globally by the end of 2026, while announcing a series of measures to revive the business and combat sharp sales declines. Fiona Jones reports. 

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Video Transcript:

Puma said Thursday it would slash 900 jobs by the end of the year to combat sharp sales declines. It also announced additional measures to revive the business, having launched a cost cutting program in March. The German sportswear maker has already cut 500 roles worldwide as part of efforts to transform its performance under new CEO Arthur Hoeld. Puma warned of an annual loss at the end of July. That's due to shrinking market share and tepid demand for the brand's products, as well as a sector-wide hit from the US tariffs on imports. The company said it had already reduced undesired wholesale business, excess inventory at retailers, and promotions in e-commerce and full price stores. It's also starting to cut exposure to mass merchants in North America. Shares in the company have lost over 50% of their value so far this year. But as new measures roll out, the company said it expects to return to growth from 2027.