Is Adidas cutting jobs?

The sportswear manufacturer Adidas plans to restructure its headquarters in Herzogenaurach, Germany, and potentially reduce its workforce of 5,800 employees at the location.

A company spokesperson stated that specific figures could not be disclosed at this time. However, Manager Magazin and other media outlets, citing company insiders, have reported that as many as 500 jobs could be affected.

The spokesperson noted that the company has achieved strong momentum for its brand, products, and business over the past two years. "However, we have also recognised that our current corporate structures are too complex in a constantly changing world," she said.

Adidas has now begun to examine how these structures can be adapted to the realities of current working practices. "This may have implications for the organisational structure and the number of positions at our headquarters in Herzogenaurach," she emphasised.

Adidas' operating profit exceeds expectations

Just the day before, Adidas released strong preliminary financial results for 2024. Sales climbed by 11 percent to approximately 23.7 billion euros, while operating profit, at 1.3 billion euros, also surpassed projections.

Two years ago, former Puma CEO Björn Gulden took the helm at Adidas as CEO. The Norwegian succeeded Kasper Rorsted, whose tenure in Franconia was considered unsuccessful, particularly regarding activities in the crucial Chinese market.

Former professional footballer Gulden has significantly improved the performance of the world's second-largest sportswear manufacturer.(dpa)

The article originally appeared on FashionUnited.DE. It has been translated using AI.