FRANKFURT, Germany — German sportswear giant Adidas said on Wednesday it will cut up to 500 jobs as it looks to continue its revival and turn the page on a messy split with US rapper Kanye West.
The reduction in the headcount, aimed at driving efficiency, will affect staff at Adidas ' headquarters in Herzogenaurach and will progress on a voluntary basis, CEO Bjorn Gulden told reporters.Gulden took the reins at the sports outfitter in 2023 in the wake of its damaging split with West who now goes by Ye over antisemitic remarks by the rapper.Following the end of the collaboration, Adidas began offloading excess stock of Yeezy products developed together with West.
The loss of West and the income from the lucrative athleisure line drove Adidas to a loss in 2023, but the group has since bounced back.In 2024, Adidas made a net profit of 824 million euros and said it hoped to continue the upward trend in 2025.Adidas said it expected 'high-single-digit rate' sales growth overall in 2025, despite a lack of major sporting events that could boost sales.
To Cut 500 Jobs Yeezy Sneakers History
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
University of the East Confers Degrees on Over 500 Graduates at Midyear CommencementThe University of the East (UE) celebrated the academic achievements of over 500 graduates during its midyear commencement exercises. Two cum laude graduates, Janela Kim Vasquez and Marvelie Anne Ramos, were recognized for their exceptional performance. The ceremony featured an inspiring address by UE alumnus Lamberto Tagayuna, who encouraged graduates to embrace lifelong learning and adaptability. UE's commitment to academic excellence was highlighted by recent achievements of its College of Dentistry and College of Fine Arts, Architecture and Design.
Read more »
Over 500 Donate Blood in Davao City Bloodletting DriveA bloodletting drive organized by Davao City Representative Paolo Duterte's office saw over 500 individuals donate blood at the Davao City Recreation Center. The event, held in collaboration with barangay health workers and the Southern Philippines Medical Center, aimed to address the need for blood in the community and save lives. Donors cited the importance of helping those in need and replenishing blood supplies.
Read more »
Japan aids 500 PH grassroots projectsLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
More than 500 arrested, including 146 foreigners in POGO raid in ParañaqueLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Devastating Fire Engulfs Mandaue City Homes, Displaces 500A major fire broke out in Mandaue City, Philippines, destroying 80 houses and displacing 500 people. While no casualties were reported, the fire caused significant damage and left residents in need of urgent assistance.
Read more »
500 individuals displaced in Mandaue City fireSunStar Publishing Inc.
Read more »