Hundreds more jobs to go at Puma
Sports group Puma has reported revenues of just under €6 billion for the first nine months of this year. This figure represents a fall of 4.3% year on year.
Revenues were down by 1.9% in Europe, by 6.2% in the Americas and by 5.5% in Asia. There were also declines in its three product categories, of 1.1% in footwear, 8.7% in apparel and 6.1% in accessories.
Chief executive, Arthur Hoeld, said on announcing these figures that Puma would expand a “cost efficiency programme” that it had already initiated. “We said at the end of July that 2025 would be a year of reset,” he added. “We are moving quickly to address challenges and make the business more efficient and resilient.”
Puma has cut 500 jobs already this year. It has now announced that it will cut a further 900 jobs by the end of 2026.
“I strongly believe the Puma brand has incredible potential, with one of the best product archives in the industry and huge credibility in many major sports,” Mr Hoeld continued.
