Puma to cut 13% of its workforce as sales continue to decline

German sportswear maker Puma on Thursday said it would cut 900 jobs in its corporate workforce globally by the end of 2026, as its sales continued to decline.

Puma reported a decline in sales of 10.4% on a currency-adjusted basis to 1.96 billion euros ($2.29 billion) in the third-quarter.

The cuts come as the company attempts to turn around its performance after lower demand for its products and a hit from U.S. tariffs on imports impacted its business.