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Read More »Puma to Lay Off 500 Employees Globally and Close Struggling Stores Due to Weak US Sales
German sportswear giant Puma has announced plans to cut 500 jobs globally and shut down unprofitable stores, citing weak consumer demand in the United States. The decision follows disappointing quarterly and annual forecasts, which led to a sharp 23% decline in Puma’s stock, according to a report by Reuters.
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