Under Armour to reduce workforce

Under Armour announced plans to reduce its workforce as part of its latest quarterly report.

The number of jobs impacted was not disclosed.

"Due to a confluence of factors, including lower wholesale channel demand and inconsistent execution across our business, we are seizing this critical moment to make proactive decisions to build a premium positioning for our brand, which will pressure our top and bottom line in the near term,” Under Armour CEO Kevin Plank said.

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