Attention

The opinions expressed by columnists are their own and do not represent our advertisers

Saturday, September 22, 2018

Under Armour Is Cutting 400 Jobs as It Restructures

Under Armour Inc.is cutting about 400 jobs globally as part of its ongoing restructuring effort, the company said Thursday.

The sportswear company said that it was reducing its workforce by about 3%, which a company spokeswoman said comes out to about 400 employees. Under Armourexpects the workforce reduction to be finished by the end of March.
A little over a year ago, Under Armour announced that it was cutting its workforce by about 2%.

Under Armour now expects its pretax restructuring charges for the year to be between about $200 million and $220 million, with the workforce reductions resulting in about $10 million in severance charges. The company had expected charges for the year to be between $190 million and $210 million.

More

No comments: