US sportswear brand Under Armor is cutting 50 jobs across its workforce.
The company confirmed the cuts to Footwear News: Under Armor has made the difficult decision to eliminate certain positions in various functions at the company.
The company announced in May that it had net income of $170.5 million for the fourth quarter ended March 31, compared to a loss of $59.6 million a year earlier. Revenue increased eight percent to $1.4 billion, with North American revenue up three percent to $862.2 million and international revenue up 16 percent to $526 million. The company said at the time that it expected sales to remain the same or increase slightly in the 2024 financial year compared to the previous year.
This translated and edited post previously appeared on FashionUnited.uk.