Puma to Cut 900 More White‑Collar Jobs

Puma will cut an additional 900 white‑collar jobs globally by the end of 2026, expanding a cost‑cutting programme that already removed roughly 500 roles this year. New CEO Arthur Hoeld is pushing a strategic reset that tightens distribution, reduces low‑quality wholesale exposure and product complexity, boosts direct‑to‑consumer efforts and refocuses marketing on running, football and training. The actions follow a bruising third quarter in which organic sales fell 10.4% to €1.96 billion, inventories rose about 17.3% to €2.12 billion, adjusted and reported EBIT plunged, and the stock has lost more than half its value year‑to‑date. Puma cited muted brand momentum, elevated inventory levels, weakened demand and the impact of U.S. import tariffs for the downturn and reiterated a weak fiscal‑2025 outlook — a low double‑digit currency‑adjusted sales decline and a reported EBIT loss — saying 2025 will be a transition year and growth is expected to resume in 2027. Management said it is expanding the cost‑efficiency programme to restore profitability and normalize inventory by end‑2026 and reiterated a medium‑term ambition to return to above‑industry growth and become a top‑three global sports brand.