Under Armour Layoffs: Jobs being cut 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.

Termination agreements for Under Armour employees

In Canada, non-unionized employees at Under Armour are owed full severance pay when they lose their jobs due to downsizing, corporate restructuring, or the closure of the business.

This includes individuals working full-time, part-time, or hourly in Ontario, Alberta, and B.C.

People working “on contract” or as a contractor may also be owed severance pay — given that many employees in Canada are often misclassified as independent contractors.

Severance can be as much as 24 months’ pay, depending on a number of factors.

WATCH: Employment lawyer Lior Samfiru explains what rights employees have if they are being fired or let go on an episode of the Employment Law Show.

Before accepting a severance offer, double-check the amount using our firm’s free Severance Pay Calculator. It has helped millions of Canadians determine their entitlements.

In addition to your salary, make sure to factor in any other elements of your compensation (i.e. bonuses, commission, etc.).

If your employer’s offer falls short of what our Severance Pay Calculator says you are owed, it’s very likely that you have been wrongfully dismissed and should contact an experienced employment lawyer at Samfiru Tumarkin LLP.

Non-unionized employees in Canada have up to two years from the date of their dismissal to pursue proper severance pay.

LEARN MORE
• Severance pay for provincially regulated employees
• Rights to severance during mass layoffs
• Severance entitlements in a recession

Major layoffs continue

The restructuring at Under Armour comes amid a flurry of layoffs in 2024.

Big names, including Walmart, Bayer, Indeed, Xbox, Kenvue, Hudson’s Bay, Google, Whirlpool, SAP Canada, IBM Canada, Netflix, Best Buy, Intel, and Amazon, have pulled out the axe as they continue to navigate challenging economic conditions.

SEE ALSO
• Rogers cuts jobs in April, part of restructuring: Reports
• Kinaxis Layoffs: Alleged restructuring impacts 6% of workforce
• Where are layoffs happening in Canada?

Lost your job? Talk to an employment lawyer

If you have been fired or let go for any reason, contact the experienced employment law team at Samfiru Tumarkin LLP.

Our lawyers in Ontario, Alberta, and B.C. have successfully represented tens of thousands of non-unionized individuals.

In addition to severance package negotiations, we can assist you on a broad range of employment matters, including:

If you are a non-unionized employee who needs help with a workplace issue, contact us or call 1-855-821-5900 to get the advice you need and the compensation you deserve.