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Puma Cuts 500 Jobs Amid Declining Demand and Forecasts

3/13/2025

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Summary

Story summary

Puma plans to eliminate 500 jobs worldwide to address declining demand in the U.S. and China.
The company has issued bleak forecasts for Q1 and 2025, highlighting competitive pressures from Adidas and Nike.
Approximately 150 positions will be cut at the headquarters, alongside the closure of unprofitable stores.
Puma targets an EBIT margin increase to 8.5% by 2027, up from 7.1% in 2024.

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Story summary

Puma plans to eliminate 500 jobs worldwide to address declining demand in the U.S. and China.
The company has issued bleak forecasts for Q1 and 2025, highlighting competitive pressures from Adidas and Nike.
Approximately 150 positions will be cut at the headquarters, alongside the closure of unprofitable stores.
Puma targets an EBIT margin increase to 8.5% by 2027, up from 7.1% in 2024.