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Herzogenaurach, January 25: Global sports footwear and apparel brand Adidas is reportedly considering cutting hundreds of jobs at its headquarters. The Adidas layoffs are expected to affect 500 employees at the company's Herzogenaurach-based headquarters in Germany. Adidas spokesperson said the company's structure was "too complex" amid the ever-evolving world.
The reports said the exact numbers of employees affected by the Adidas layoffs were not disclosed. However, it was estimated to affect nearly 500 workers at its HQ. Adidas CEO Bjoern Gulden reportedly announced the plan to cut jobs, and it was reported that the company employed around 5,800 people in the Bavarian town.
CNN Layoffs: US-Based Media Firm Laying Off 200 Employees From TV Business Amid Its Shift To Focus on Digital Audience, Know What It Means for News Industry. The reports said that the Adidas layoffs were confirmed by the company's spokesperson, who did not say how many people would be affected by the decision. Bjoern Gulden began decentralising Adidas and delegating the responsibilities to the individual markets from its headquarters.
On Tuesday, Adidas shared its financial figures, which were better-than-expected for 2024, showing an 11% jump in sales and operating profit of 1.34 billion euros. Following the announcement, another rival company, Puma, announced that it would reduce its workforce as a part of a cost-cutting measure.
Puma's net profit missed expectations and reached 282 million euros compared to 2023 when it posted 305 million euros. Puma's layoffs were aimed at helping the sportswear brand save costs in personal expenses. Despite letting go of some employees, a spokesperson for Puma said that the company would not be planning any global layoffs as it wished to keep a stable workforce.
Amazon Layoffs: E-Commerce Giant Likely To Lay Off Around 1,700 Employees Amid Quebec Operations Exit. Puma CEO Arne Freundt said, "we are not satisfied with our profitability", and further informed that the company would try to clock a stronger profit in 2025. Both of these companies have laid off employees to meet the challenging global industry landscape and meet profitability.
(The above story first appeared on LatestLY on Jan 25, 2025 04:35 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com ).
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