Under Armour Will Cut 400 Jobs
The layoffs amount to about 3% of its global workforce and will add $10 million in severance costs to the $190 to $210 million cost of the company’s previously announced restructuring plan. The job cuts and the restructuring are both expected to be complete by Mar. 31, 2019. UA updated its 2018 full year guidance, and now expects an operating loss of about $60 million, the high end of its previous range. Adjusted diluted earnings per share, which excludes the restructuring, is now expected to be $0.16 to $0.19 versus the previous guidance of $0.14 to $0.19. Under Armour shares ... Log in to view full article.