Under Armour has cut 50 corporate roles across various units and functions in order to reduce expenses, Footwear News has reported. The impacted employees will receive severance, healthcare benefits and career support, the company said. Under Armour had a workforce of around 15,000 worldwide as of March 31, 2023, half of whom were full-time. The company recently hired the former president of Marriott International, Stephanie Linnartz, as its new president, chief executive officer and member of the board of directors. She replaced the departed Patrik Frisk effective Feb. 27. 2023, following a seven-month search process.
At a fourth-quarter analyst conference call (ended March 31), Linnartz announced the launch of a new strategic program called “Protect This House Three” (PTH3), which focuses on brand, product and North America to drive growth. At the same time, the company announced that it will control its expenses and focus its resources on the areas with the highest returns.
