On Thursday, Sept. 20, 2018, Under Armour (Baltimore) announced that it would be cutting 3 percent of its workforce and that it would be restructuring to cut costs overall.
According to Under Armour spokeswoman Kelley McCormick, the cuts will affect roughly 400 workers, and the company will allocate about $10 million to cover cash severance costs associated with the downsizing, reports USA Today. It did not specify which departments the reductions would occur.
The elimination of some positions is part of a larger effort to increase efficiency and restructure global operations. As of Dec. 31, 2017, the company employed about 15,800 workers. Last year it eliminated about 300 positions, and earlier this year it announced it would be doing further restructuring.