Reebok jobs go
15/01/2009
Adidas has announced plans to cut 300 jobs at its Reebok brand in North and South America in light of the economic downturn.
"This was an inevitable step on our way to making the Reebok organization leaner, more flexible and more profitable to be prepared for future challenges, in particular in the light of the current economic climate," adidas said in a statement.
The company announced on January 12 that it would trim 70 out of 1,500 employees at its golf brand TaylorMade.
Adidas bought Reebok in 2006 to step up its fight against Nike, with Reebok's share of the football boot market one of the most appealing aspects of the deal.
According to Reuters, slowing demand in the US market has been troubling adidas and its peers for some months and Reebok posted a 15% drop in third-quarter sales last year.
Despite the cuts, adidas said it expects the group's workforce still to be at current levels of around 37,000 by the end of 2009 and it ruled out job-cuts in Germany.
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