Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Under Armour to Lay Off 600 Employees Globally

The sportswear maker expects to incur $235 million in charges, including up to $135 million for contract termination.
Under Armour store Shanghai | Source: Shutterstock
By
  • Reuters

BALTIMORE, United States — Sportswear maker Under Armour Inc said on Tuesday it will lay off about 600 employees from its global workforce, citing the impact brought on by the coronavirus pandemic to its business.

The company expects to incur about $235 million in charges, including up to $135 million for contract termination and other restructuring costs, it said in a filing.

The company also raised its restructuring cost for the year by $75 million and now expects it to be about $550 million to $600 million.

Under Armour said it expects majority of remaining restructuring charges to occur by end of the year.

ADVERTISEMENT

In April, the company had said it would temporarily lay off about 600 workers at its U.S.-based distribution centres.

By Shradha Singh.

In This Article

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Analysis and advice from the front lines of the retail transformation.

Promising Signs for Macy’s Turnaround

Sales fell in the retailer’s first quarter, but were up at 50 stores where new ideas are being tested. CEO Tony Spring tells BoF he’s just getting started.


How Creative Direction at Pandora Is Evolving

Central to global jewellery brand Pandora’s growth strategy is a creative process that leverages customer behaviour and more sustainable innovation. BoF hears from creative directors Francesco Terzo and A. Filippo Ficarelli to understand their ambitions.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
The Business of Beauty Global Forum
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
The Business of Beauty Global Forum