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Puma is axing 900 jobs as it wrestles with Donald Trump’s tariffs and fierce competition. Shares in the group plunged 9 per cent after it said it would cut the positions by the end of 2026, after it revealed 500 redundancies in March. Arthur Hoeld, who took over as chief executive in July, vowed to ‘get the cat on track again’ – a reference to Puma’s logo, and promised to return the business to growth by 2027. Sales fell 10.4 per cent year-on-year to £1.7billion in the three months to the end of September. Clothes sales plunged 12.8 per cent while accessories were down 6.1 per cent. Puma faces tough competition and expects to make an annual loss, blaming Trump’s tariffs. It has relied on importing its products from South East Asian countries, which are now subject to big tariffs in the US
