Under Armour is restructuring in the wake of declining sales. (Jim Young/Reuters)In the wake of a second consecutive quarterly loss, albeit one that was smaller than originally forecast, struggling athletic apparel company Under Armour announced Tuesday that it is laying off 2 percent of its 15,000 employees worldwide, or about 280 people, as part of a restructuring plan. In April, it laid off around 24 employees — most of them based in Copenhagen — in its Connected Fitness unit. Half of the people laid off after Tuesday’s announcement will come from its Baltimore headquarters, CNBC reports. Read more:‘Climate change is real’: Under Armour’s Kevin Plank is unhappy with Trump’s Paris withdrawalAfter condemning CEO’s defense of Trump, Misty Copeland says her relationship with Under Armour is ‘very solid’Under Armour CEO had a cool brand before stepping into a hot messThe backlash against Plank’s Trump comments has gone global

Source: Washington Post August 01, 2017 14:10 UTC