Adidas plans to lay off up to 500 employees<\/strong> at its headquarters in Herzogenaurach, Germany, as part of an effort to simplify its operations<\/strong>, a source confirmed to CNBC on Thursday. The job cuts could impact nearly 9% of the 5,800 staff<\/strong> at its global headquarters.<\/p>\n\n\n\n The final number of affected employees has not yet been determined, but Adidas will make a decision as the process progresses, according to a source familiar with the matter. Employees learned about the planned restructuring on Wednesday, just one day after Adidas announced better-than-expected preliminary profit results<\/strong> for its holiday quarter.<\/p>\n\n\n\n Adidas reported 19% sales growth<\/strong> in the last quarter of 2024, with revenue expected to reach 5.97 billion euros<\/strong>, surpassing analyst estimates of 5.68 billion euros<\/strong>, according to LSEG data. The strong results reflect the company’s efforts to restructure and capitalize on growing demand for its classic sneaker lines.<\/p>\n\n\n\n In a statement to CNBC, an Adidas spokesperson explained that the company\u2019s current operating model has become too complex<\/strong>, prompting the decision to reassess its organizational structure.<\/p>\n\n\n\nLayoff Details and Employee Notification<\/h2>\n\n\n\n
Financial Performance and Growth<\/h2>\n\n\n\n
Statement from Adidas<\/h2>\n\n\n\n