Almost There: Adidas' Headquarters Job Cuts Progress
Adidas is on the verge of finalizing the reduction in workforce at its headquarters.
Adidas is well on its way to completing the job cuts announced earlier, with CEO Björn Gulden revealing they're two-thirds done. This news came during the annual general meeting held in Fürth on Thursday.
The sportswear giant had signaled that as many as 500 jobs could be cut at their headquarters in Herzogenaurach, and they've extended severance packages to those affected. The goal behind these measures? To reduce complexity and boost efficiency, as per Gulden's confirmation. It seems Adidas had some business models with functions that were redundant, even tripled in some cases, and the company is now merging these to streamline operations.
This restructuring move is part of a larger Adidas strategy to get leaner and more agile in the ever-evolving sportswear market.
Sources: ntv.de, rts
Community policy will likely be revised as Adidas streamlines operations to focus on reducing complexity and boosting efficiency. The finance department may need to allocate resources for severance packages for the affected employees, a move resulting from the employment policy changes at Adidas' headquarters.
