Reebok, the athletics retailer, has, reportedly, confirmed that it will be laying off around 150 of its employees. The news comes as Reebok gets ready for new ownership.
Notably, the majority of the staff to be affected work at Reebok’s headquarters in Boston.
The decision to lay off the employees is being seen as a part of restructuring tied to its acquisition.
Authentic Brands Group (ABG) is all set to acquire Reebok in the first quarter of this year, at which time the layouts will take effect.
With ABG acquiring Reebok, the brand is readying itself for a new life following adidas’ decision to sell Reebok last year.
More on the employee layoff, the retailer said “We want to sincerely thank these employees for their years of service and dedication to Reebok. We will share more details about the future of the organisation after the sale process is complete.”
Founded in 1895, Reebok is a clothing and footwear manufacturer, which has regional offices in Amsterdam, Montreal, Hong Kong and Mexico City.
