Burgeoning expenses have been an issue for Under Armour, and shares rose Thursday on the news of the brand’s plans to scale back its workforce, one of the costliest line items for any business.
Under Armour Chief Financial Officer David Bergman called the plan a “difficult decision,” but expressed confidence in the company’s overall restructuring. “This redesign will help simplify the organization for smarter, faster execution, capture additional cost efficiencies, and shift resources to drive greater operating leverage as we move into 2019 and beyond,” he said in a statement.
