Puma to cut 13% of its workforce as sales continue to decline

German sportswear maker Puma on Wednesday said it would cut a further 13% of its workforce globally, equivalent to 900 jobs, by the end of 2026, as its sales continued to decline.

Puma reported a decline in sales of 10.4% on a currency-adjusted basis to 1.96 billion euros ($2.29 billion) in the third-quarter.

The cuts come as the company attempts to turn around its performance after lower demand for its products and a hit from U.S. tariffs on imports impacted its business.