Puma to cut 900 jobs as part of restructuring under new CEO Arthur Hoeld

The world’s third-largest sportswear company, Puma, is facing losses but plans a major turnaround. The Germany-based brand, trailing Nike and Adidas, will cut about 900 administrative roles and streamline its product portfolio by the end of 2026 under its new CEO, Arthur Hoeld.

Puma, headquartered in Herzogenaurach, reported losses in the first nine months of the year. Sales fell 8.5% to €5.97 billion compared with the same period last year, while consolidated earnings dropped by about half a billion euros. After nine months, the company posted a net loss of €257 million.

Moving forward, Puma intends to focus on its core categories of football, training, running and sports fashion. Its direct-to-consumer business—through its own retail stores and e-commerce—is expected to grow faster, as Puma has so far been heavily dependent on wholesale distribution. The new CEO described 2026 as a transition year, to return to growth from 2027 onward.

To achieve this, Hoeld plans to strengthen the brand and its signature leaping cat logo. “I firmly believe that the Puma brand is intact and has incredible potential,” he said. The company intends to reduce wholesale’s share of revenue, as discounted sales through big-box retailers have hurt brand desirability. Puma also plans to lower its inventory levels.