World Footwear

Companies

Under Armour to lay off 600 employees globally

Sep 9, 2020 United States
Under Armour to lay off 600 employees globally
US-based sportswear maker said it will lay off about 600 employees from its global workforce, given the impact of the COVID-19 pandemic in its business
In a US Securities and Exchange Commission filing presented Tuesday, Under Armour said it plans to cut about 600 jobs primarily in its “global corporate workforce.”

As part of the plan, Under Armour expects it will incur 235 million US dollars of cash charges including up to approximately 135 million US dollars of contract termination and other restructuring costs. The brand also expects to recognize 70 million US dollars of facility and lease termination costs and 30 million US dollars in employee severance and benefit costs related to such reduction in its workforce.

Source: Baltimore Business Journal


Related Events

  • Jul
    17
    Jul 17-Jul 18, 2024 | New York, United States

    Lineapelle New York

  • Jul
    22
    Jul 22-Jul 23, 2024 | Portland, United States

    Polymers in Footwear Portland

  • Jul
    24
    Jul 24-Jul 25, 2024 | Chicago, United States

    Chicago Shoe Market

  • Jul
    28
    Jul 28-Jul 29, 2024 | Lexington, Kentucky, United States

    Bluegrass Buyers Market

Related Organizations

  • USRA - United Shoe Retailers

    USRA - United Shoe Retailers

    United States
  • PLC - Pensole Lewis College of Business & Design

    PLC - Pensole Lewis College of Business & Design

    United States
  • FDRA - Footwear Distributors and Retailers of America

    FDRA - Footwear Distributors and Retailers of America

    United States
  • The Museum at FIT

    The Museum at FIT

    United States