Puma Announces Job Cuts Following Profit Decline and Stock Plunge

The sportswear giant plans to cut 500 jobs and implement cost-saving measures after reporting a 7.6% drop in 2024 profits and a sharp fall in its stock price.

Puma reported a 7.6% decline in net profit for 2024, totaling €282 million, despite a 2.5% rise in revenue to €8.8 billion.
The company's stock fell by over 20% to its lowest level in eight years following the announcement of reduced profit forecasts for 2025.
Puma plans to cut 500 jobs globally, including 170 at its headquarters in Herzogenaurach, as part of a €75 million efficiency program.
The company aims to improve profitability by closing underperforming stores, optimizing supply chains, and reducing reliance on discounts.
Despite challenges, Puma intends to capitalize on the popularity of retro-style shoes and expand its successful Nitro running shoe line.