Puma Announces 900 Administrative Job Cuts Amid Restructuring Effort

Puma Initiates Major Restructuring Amidst Financial Challenges

German sportswear company Puma SE announced on Thursday, October 30, 2025, its decision to cut approximately 900 administrative jobs worldwide by the end of 2026. This significant workforce reduction is a core component of a broader restructuring program designed to revitalize the brand following substantial sales declines and a challenging market environment. The planned cuts represent about 13% of Puma's global corporate workforce and follow an earlier reduction of approximately 500 jobs this year.

Strategic Reset Under New Leadership

The restructuring is being spearheaded by Arthur Hoeld, who assumed the role of CEO in July 2025. Hoeld, formerly the sales chief at rival Adidas, has characterized 2025 as a 'year of strategic reset' and 2026 as a 'transition year,' with the company targeting a return to growth from 2027 onwards. The company, headquartered in Herzogenaurach, Germany, aims to address several key issues, including 'muted brand momentum, elevated inventory levels across the trade and low quality of distribution.' Hoeld stated that Puma had become 'too commercial, overexposed in the wrong channels, with too many discounts.'

Key Measures and Financial Context

Puma's turnaround strategy involves several critical measures:

• Streamlining the product range: Reducing the number of new items introduced each season.
• Focusing on core categories: Prioritizing football, training, running, and sports fashion.
• Strengthening direct-to-consumer (DTC) business: Enhancing its own retail and e-commerce operations while reducing reliance on wholesale.
• Inventory management: Adjusting inventory levels, with normalization expected by the end of 2026.
• Reducing discounting: Scaling back promotions and exposure to mass-market retailers, particularly in North America.

These changes come after a challenging financial period. Puma reported a 10.4% currency-adjusted decline in third-quarter sales to 1.96 billion euros, with reported sales falling 15.3%. Earnings before interest and taxes (EBIT) slumped by approximately 87% to 29.4 million euros. The company also recorded a net loss of 257 million euros for the first nine months of the year. Shares in Puma have fallen by more than 50% since the beginning of the year. One-time costs associated with the cost efficiency program are estimated at around 10 million euros.