Under Armour Cutting Jobs Amid Sales Slump
What’s happening at Under Armour?
Under Armour is scaling back its staffing levels as it grapples with a continued decline in revenue.
In its Q4 2024 earnings release, the sportswear giant announced that its board of directors has approved a restructuring plan.
Under Armour expects to incur “total estimated pre-tax restructuring and related charges” (i.e. severance pay) of approximately US$70 to US$90 million.
“Over the next 18 months, there is a significant opportunity to reconstitute Under Armour’s brand strength through achieving more, by doing less, and focusing on our core fundamentals,” CEO Kevin Plank said in the release.
“In parallel, we’re focused on cost management and implementing the strategies necessary to grow our brand and improve shareholder value as we move forward.”
The company also announced a share repurchase program of up to US$500 million.
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Impact on Canadian staff
Several employees have contacted Samfiru Tumarkin LLP — claiming that they’ve been let go.
Our experienced employment lawyers are following up with affected Under Armour staff and reviewing their severance offers.
According to the company’s LinkedIn page, it has more than 620 workers in the country.
If you’re a non-unionized employee, check out our Under Armour Layoffs guide.
You can also use our free Pocket Employment Lawyer tool for real-time insights.
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Lost Your Job? Get Help Now
📞 Contact Samfiru Tumarkin LLP: 1-855-821-5900 or request a consultation online.
Our experienced employment lawyers in Ontario, Alberta, and British Columbia (BC) have helped tens of thousands of non-unionized individuals resolve their workplace issues, including wrongful dismissals.
If you’ve lost your job at Under Armour for any reason, don’t panic. We can review your situation, assess your legal options, and help you secure the compensation you’re legally entitled to.
Contact your union immediately. By law, employment lawyers can’t represent unionized employees.
About the Author
Lior Samfiru
Lior Samfiru is a Founding Partner at Samfiru Tumarkin LLP and the Practice Leader of the firm’s Labour & Employment Law Group. Known for his advocacy and success representing both employees and employers, Lior exclusively serves clients in Ontario, where his extensive experience has made him one of Canada’s most sought-after employment lawyers.
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