Crisis deepens at sportswear giant Puma
Facing difficult times due to a decline in sales, German sportswear giant Puma has taken its first step by reducing its workforce.
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German sportswear brand Puma has announced that it will lay off 13 percent of its global workforce, or approximately 900 people, by the end of 2026 following a decline in global sales.
According to the company's third-quarter data, sales fell by 10.4 percent due to currency effects, dropping to 1.96 billion Euros (approximately 2.29 billion dollars).
Puma management stated that the performance loss was due to weakening demand for products and the negative impact of US import tariffs on the company's operations, adding that they made this decision to ensure financial stability.