Azernews.Az

By Alimat Aliyeva

German sportswear giant Puma announced on Thursday that it will cut 900 jobs from its corporate workforce worldwide by the end of 2026. The move comes as part of a broader effort to revitalize the business and address a sharp decline in sales, Azernews reports.

The company reported a 10.4% drop in sales in recent months, reflecting weaker demand for its shoes and apparel, declining market share, and industry-wide losses due to U.S. import duties.

Earlier this year, Puma already reduced its workforce by 500 employees as part of a cost-cutting initiative launched in March. The company confirmed that the program will be expanded under the leadership of new CEO Arthur Hoeld, who is tasked with steering Puma back to growth and profitability.

In late July, Puma issued a warning of annual losses, highlighting the challenges it faces in a competitive global market. Since the start of 2025, the company’s shares have lost over 50% of their value, reflecting investor concerns about the brand’s performance.

Industry analysts note that Puma is not alone in facing such pressures. Rising import tariffs, supply chain disruptions, and shifting consumer preferences have affected many global sportswear companies, making strategic restructuring and investment in innovation more critical than ever. Puma has indicated that it will focus on digital sales, product innovation, and marketing campaigns to regain momentum and strengthen its position in key markets.

Despite the challenges, some experts see potential for a comeback, noting that Puma’s strong brand recognition and recent collaborations with celebrities and designers could help the company reconnect with younger consumers and stabilize revenue in the coming years.