Sportswear giants Adidas and Puma weighing job cuts
- adidas and puma are seeking to reduce costs, including possible job cuts, as they aim to boost profits.
- The plans could affect up to 500 employees and reflect ceo bjorn gulden's desire to simplify adidas.
- Puma's shares dropped 18% after its net profit fell to 282 million euros in 2024 from 305 million in 2023.
- Adidas's operating profits jumped fivefold in 2024, but gulden stated the company still needed to improve profit margins to 10%.
Insights by Ground AI
Does this summary seem wrong?
Coverage Details
Total News Sources0
Leaning Left3Leaning Right3Center0Last UpdatedBias Distribution50% Left, 50% Right
Bias Distribution
- 50% of the sources lean Left, 50% of the sources lean Right
50% Right
L 50%
R 50%
Factuality
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage