US-based performance sports apparel brand, Under Armour, recently announced that it will further cut around 400 jobs or 3 per cent of its international workforce in a bid to cut costs to remain competitive in North America against big sportswear brands like Nike and Adidas.
This is the second time in the last one year, the sportswear brand has decided to cut jobs. The company announced to cut 140 employees last month and at the end of previous year, the retailer was home to around 15,800 employees.
The job cuts are expected to conclude by the end of Q1 ‘19.
In a press statement issued, David Bergman, CFO, Under Armour said, “It is difficult to take such decisions but if as a company, we want to make sure we are at a level playing field with other big activewear players, we have to work to build a more operationally excellent brand.”
“This redesign will allow the organization to simplify for smarter, faster execution, capture additional cost efficiencies, and shift resources to steer greater operating leverage as we move into the future,” David added.
Notably, the sportswear retailer is expecting the operating loss for the ongoing year to be US $ 60 million. While the adjusted operating income is expected to be at US $ 140 to US $ 160 million. On the other hand, the company anticipates the expenses to be between US $ 200 to 220 million.
Additionally, the adjusted earnings per share are touted to be in the range of 16 to 19 cents as compared to the previously expected range of 14 to 19 cents.
Bharat Tex Special Report 2026 
