2 w. ago
FTSE 100 winning streak ends as WPP shares hit lowest level since 2008
Rolling coverage of the latest economic and financial newsOver in Germany, Puma has told investors this morning that it plans to cut more than 900 jobs in a turnaround plan under the new boss Arthur Hoeld.The sportswear brand said it will cut 900 roles by the end of next year as part of a plan to get back to growth by 2027.At the end of July, we stated that 2025 would be a year of reset. Since then, we have taken important steps to clean up Puma’s distribution, improve our cash management and reset our operational expenses. By expanding our cost efficiency programme, we are moving quickly to address challenges and make the business more efficient and resilient.I strongly believe the Puma brand has incredible potential with more than 77 years of history, one of the best product archives in the industry and huge credibility in many major sports. We have identified the areas in which we need to take decisive action and outlined our strategic priorities to become one global sports brand...
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