Adidas Group Chairman Herbert Hainer e-mailed all employees Friday to say that, due to the troubled economy, the company is imposing a hiring freeze, cutting external meetings, seminars and consultants, and aiming to pare travel expenses next year by 15%, reported The Oregonian. Hainer also said that this year the company will do without year-end parties, which cost a total of about $6.3 million.
“We believe the current climate does not offer an occasion to party,” he wrote. According to The Oregonian and further confirmed with adidas by SportsOneSource, Hainer did not mention layoffs, although he said adidas would “have to make structural adjustments here and there.”
