Puma to Cut 900 Jobs and Implement Business Turnaround Amid Sales Decline

Puma's Corporate Restructuring

• 🎯 Puma announced a plan to cut 900 corporate jobs globally by the end of 2026.
• 💡 This move is part of a broader strategy to revive the business and address sharp sales declines.

Financial and Market Challenges

• 📉 The company has already eliminated 500 roles as part of a transformation under its new CEO.
• ⚠️ Puma warned of an annual loss due to shrinking market share, tepid product demand, and the impact of US tariffs on imports.
• 🛍️ Efforts are underway to reduce exposure to undesired wholesale business, clear excess inventory, and scale back promotions.

Strategic Shift and Future Outlook

• 🇨🇦 Puma is also cutting its exposure to mass merchants in North America.
• 📈 Despite a significant drop in share value (over 50% this year), Puma anticipates a return to growth starting in 2027 with the implementation of new measures.