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.
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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.
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