Puma to cut 900 more jobs as Trump tariffs bite
Trump’s tariffs blamed as Puma slashes 900 more jobs
- Puma is set to eliminate 900 positions from its global corporate workforce by the close of 2026 as part of an expanded cost-cutting programme.
- This follows 500 job cuts already made this year, with the sportswear giant aiming to revitalise its business amidst sharp sales declines and a shrinking market share.
- Under new chief executive Arthur Hoeld, Puma is addressing subdued consumer demand, US tariffs on imports and a warning of an annual loss issued in July.
- The company's shares have lost over 50 per cent of their value in 2025, and it reported a 10.4 per cent decline in currency-adjusted sales in the third quarter.
- Puma plans to reduce undesired wholesale business, cut exposure to North American mass merchants, clean up distribution, and make targeted marketing investments, expecting a return to growth from 2027.