Puma, the well-known sports apparel manufacturer based in Herzogenaurach, is undergoing a significant transformation under new CEO Arthur Hoeld, who took over in July 2025. To reposition Puma as one of the top three global sports brands, Hoeld has announced a major restructuring plan involving the elimination of 900 jobs worldwide, primarily in administration, reducing the company's total workforce from 7,000. This follows an earlier cut of 500 jobs by the previous management. The company aims to streamline operations by focusing on key sports categories such as football, running, and training, while reducing its presence in the budget segment, especially in North America where products are heavily sold through large retail chains. Puma plans to cut down its product range and reduce inventory in retail outlets, with an emphasis on enhancing brand desirability and avoiding discount-driven sales. Despite these efforts, Puma's financial performance has been declining, with a third-quarter revenue drop of over 10% to nearly €2 billion and a net loss of €62.3 million, accumulating to €309 million over nine months. In contrast, competitor Adidas reported an 8% revenue increase to over €6.6 billion in the same period, with a significant profit rise. Puma's outlook remains cautious, expecting a loss for the year and a recovery only by 2027, with 2026 designated as a transition year. The company also faces speculation about potential sale or delisting, but the Pinault family, major shareholders, continue to support the brand.