Adidas to cut 500 jobs
German sportswear giant Adidas announced on Wednesday that it will cut up to 500 jobs as part of its ongoing revival efforts, following a turbulent split with US rapper Kanye West.
The job reductions, aimed at improving efficiency, will primarily affect staff at Adidas’ headquarters in Herzogenaurach and will be carried out on a voluntary basis, CEO Bjorn Gulden told reporters.
Gulden took over as CEO in 2023 in the aftermath of the company’s fallout with West—who now goes by Ye—after the rapper made anti-Semitic remarks.
Following the end of their collaboration, Adidas began selling off excess stock of Yeezy products developed in partnership with West.
The company confirmed on Wednesday that it had sold its last remaining pair of Yeezy-brand trainers in the final quarter of 2024.
The loss of West and the lucrative Yeezy line led to a financial downturn for Adidas in 2023, but the company has since rebounded.
In 2024, Adidas reported a net profit of €824 million ($882 million) and expressed optimism about maintaining the positive trend in 2025.
The company expects overall sales growth in 2025 to be in the “high single-digit range,” despite the absence of major sporting events that typically drive sales.
Speaking to reporters, Gulden acknowledged the uncertainty surrounding potential US tariffs threatened by former President Donald Trump against key trading partners, including China.
“We don’t know what will happen with tariffs in the United States,” the CEO said.
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