Puma is set to cut around 900 additional jobs worldwide by the end of next year, as part of a sweeping restructuring plan under Arthur Hoeld, the new CEO. The upcoming cuts represent about 13 per cent of Puma’s global corporate workforce. Details of the cost savings from these layoffs will be shared later.
The move marks the latest phase of the sportswear giant’s brand and business overhaul, bringing total layoffs to nearly 1,300 after 500 positions were already eliminated earlier this year.
Hoeld, who took over the top role in July after a long stint at Adidas, is leading a full-scale reset aimed at reviving Puma’s brand strength, improving profitability, and positioning the company among the top three global sportswear brands. The strategy focuses on simplifying operations, strengthening direct-to-consumer channels, and cutting ties with less profitable wholesale partners, particularly discount retailers in the US.
The decision follows a sharp decline in Puma’s performance. In the third quarter, revenue dropped 15.3 per cent year-on-year to €2 billion, as the company faced heavy discounting and sluggish demand. Puma reported a net loss of €62.3 million, compared with a profit of €127.8 million a year earlier. Inventories surged 17.3 per cent to €2.12 billion due to unsold stock returned by retailers. The company expects inventory levels to normalise only by the end of 2026.
To streamline operations, Puma will buy fewer products from suppliers, reduce its seasonal collections, and focus on improving product execution. Leadership changes are also underway, with Maria Valdes appointed as chief brand officer and former Nike and Adidas executives joining key operational roles.
While 2025 is expected to remain a challenging year, Puma sees 2026 as a transition period, with a return-to-growth forecast for 2027. The company says the ongoing reset will help restore focus and discipline to bring the iconic cat brand back on track.
