Puma to Cut 900 Jobs Globally as Part of Restructuring Plan

Sportswear major Puma has announced plans to cut around 900 additional jobs worldwide by the end of next year as part of a global restructuring drive under its new Chief Executive Officer, Arthur Hoeld. The layoffs account for about 13 per cent of Puma’s global corporate workforce. Details regarding cost savings from the restructuring will be disclosed at a later stage.
This development marks the second phase of the company’s business overhaul, bringing total job cuts to nearly 1,300 after the earlier elimination of around 500 roles in 2025.
Hoeld, who took over as CEO in July 2025 following a long tenure at Adidas, is spearheading a comprehensive reset focused on reviving brand strength, improving profitability, and positioning Puma among the top three global sportswear brands. The strategy includes simplifying operations, expanding direct-to-consumer channels, and reducing partnerships with less profitable wholesale and discount retailers, especially in the United States.
The decision comes amid a sharp decline in the company’s financial performance. In the third quarter, Puma’s revenue fell 15.3 per cent year-on-year to €2 billion, while it reported a net loss of €62.3 million, compared with a profit of €127.8 million a year earlier. The company also recorded a 17.3 per cent increase in inventories, reaching €2.12 billion, largely due to unsold stock returned by retailers. Puma expects inventory levels to stabilise only by the end of 2026.
As part of its streamlining efforts, the company plans to reduce product orders from suppliers, cut down on seasonal collections, and focus on improving product quality and execution. The leadership team is also being reshaped, with Maria Valdes appointed as Chief Brand Officer and several former Nike and Adidas executives joining key operational positions.
While 2025 is expected to remain challenging, Puma anticipates 2026 to be a transition year, with a return to growth projected for 2027. The company stated that the ongoing reset is designed to bring renewed focus and operational discipline to strengthen the brand’s global presence.

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