German sportswear giant Puma has announced plans to eliminate 900 positions from its global corporate workforce by the end of 2026, intensifying a cost-cutting drive as it grapples with falling sales. The latest redundancies expand on a programme launched in March, which has already seen 500 roles cut this year.
The company, under new chief executive Arthur Hoeld, is seeking to reverse a downturn driven by a shrinking market share and subdued consumer demand. External pressures, including US tariffs on imports, have compounded internal challenges, prompting Puma to warn of an annual loss in July. Its shares have lost more than half their value in 2025.
Puma reported a 10.4% decline in currency-adjusted sales to €1.96 billion (£1.55 billion) in the third quarter, slightly below analysts’ expectations. Inventories rose 17.3% to €2.12 billion (£1.68 billion), but the company expects levels to normalise by the end of 2026.
In response, Puma has reduced its wholesale business, cut excess inventory, and scaled back promotions in e-commerce and full-price stores. It is also reducing exposure to mass merchants in North America, while planning to clean up distribution and increase targeted marketing investments.
