Adidas AG

Under Armour to lay off 400 more workers as restructuring continues

Under Armour to lay off 400 more workers as restructuring continues

Under Armour plans to slash its global workforce by 400 workers by early next year, a move the Baltimore-based brand said is necessary as it seeks to rejuvenate sales of athletic apparel and shoes in a market dominated by rival Nike.

The layoffs of 3 percent of its employees is the latest phase in Under Armour’s restructuring that began last year after the fast-growing company stumbled toward the end of 2016 amid intense competition, closures of key retailers and changing consumer tastes in the sports apparel category.

As sales growth stalled, Under Armour brought in a new president to help founder and CEO Kevin Plank. It subsequently announced layoffs of 2 percent of its...

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