Puma, a big sportswear company, isn't doing so well. They're cutting jobs and closing some stores because sales aren't as good as they hoped. This is happening because people aren't buying as many Puma products in the US and China.
They're facing tough competition from other big names like Adidas and Nike, and even newer companies. Puma wants to make more money and grow, but it's proving challenging.
This means changes are happening to help them improve.
- Puma will cut 500 jobs worldwide.
- Around 150 jobs will be cut at their headquarters.
- Some stores that aren't making money will close.
- Puma is trying to improve its profits to reach an 8.5% margin by 2027.
| Fact | Number |
|---|---|
| Total Jobs Cut | 500 |
| Headquarters Job Cuts | 150 |
| Target EBIT Margin (2027) | 8.5% |
| Current EBIT Margin (2024) | 7.1% |
