Adidas plans to cut as many as 500 jobs in a bid to simplify its business, a person familiar with the matter confirmed to CNBC on Thursday.
The layoffs will affect employees at Adidas’ headquarters in Herzogenaurach, Germany, and represent nearly 9% of the 5,800 staffers it employs at the location. The company has not determined how many jobs it will cut, but up to 500 positions could be affected, a source told CNBC. Adidas will decide the final number when it is further along in its process.
“To set adidas up for long-term success we are now starting to look at how we align our operating model with the reality of how we work. This may have an impact on the organizational structure and number of roles based at our HQ in Herzogenaurach,” the spokesperson said. “We will now start to work closely with the Works Council to ensure that any changes are handled with the utmost respect and care of all employees.
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