It was not just about new hires and promotions when assessing the labor news in 2025 (see SGB 2025 Year-in-Review — Executive Shuffle), as companies had to contend with cost-cutting measures, with many pointing to President Trump’s tariff measures as the primary reason for cutting employees in 2025.
Others, such as the big layoffs at Nike, Inc. and VF Corp., came as part of internal restructuring, or as part of ongoing corporate shifts and job cuts at Foot Locker, Inc., as Dick’s Sporting Goods, Inc. works to right-size the businesses it acquired in September 2025.
Some of the top-read articles SGB Media published in 2025 include:
- Adidas: Job Cuts Loomed at Global HQ
The company expects 2025 sales for the Adidas brand to grow at a double-digit rate in North America, Greater China, Emerging Markets, and Latin America. Europe and Japan/South Korea will increase at a high-single-digit rate. - Astral: Layoffs to Help Offset Tariffs
Astral Designs announced that it was streamlining its operations, reducing its full-time staff by 14 percent and increasing prices on average by 10 percent at the start of 2026, to offset the impact of tariffs. - Duluth Holdings: Layoffs Affect 3 Percent of Workforce
As part of its expense savings initiatives to rightsize the business, the retailer reduced its workforce by 51 employees, or 3 percent of its total workforce, on June 4. - Gymshark: Restructuring to Cause Hundreds of Position Cuts and Adds
After reporting that earnings in its latest year had declined due to omni-channel investments and is facing “intense macro-economic volatility” in the marketplace, Gymshark reported it is restructuring the company. - L.L.Bean: Additional Staff Cuts in Maine HQ
The retailer will lay off 50 to 75 employees at its corporate headquarters in Maine. These latest cuts equal approximately 2 percent to 3 percent of its Freeport-based staff and are the retailer’s second round this year. - Macy’s, Inc.: Confirms Planned Store Closures, Staffing Cuts
As previously disclosed, the 66 Macy’s locations will close as part of the company’s “Bold New Chapter” strategy. - Nike: Another Round of Layoffs Putting Sport and Sport Culture Front and Center Again
On August 28, Nike announced plans to reduce its corporate workforce in another round of layoffs by 1 percent as part of CEO Elliott Hill’s efforts to realign team structures across the business. “This new formation is built to put sport and sport culture back at the center, to connect more deeply with the athlete and the consumer,” the company said in a media release. - Orvis: Cites Tariffs in Latest Layoff Talk
The company plans to lay off 4 percent of its workforce, or at least 50 employees, by the end of the year due to the impact of tariffs. Orvis President Simon Perkins said the “Tariffs disrupted our business model in ways we haven’t faced before and have exposed a clear path to solidifying our long-term future.” - Peloton: Swings to Fiscal Q4 Profit, Plans Layoffs
Along with the revenue and earnings beats, company President and CEO Peter Stern also announced that the company was launching a cost restructuring plan aimed at achieving at least $100 million of run-rate savings by the end of FY26. - Puma: Confirms 500 Position Cuts
The company reported flat year-over-year sales growth in the first quarter on a currency-adjusted basis and a 1.3 percent decline in reported terms, as Wholesale fell behind and DTC sales posted double-digit growth. - Thule, Inc.: Files Warn Notice to Eliminate 22 Positions in Colorado
The Sweden-based maker of rack systems and bags for active lifestyle activities indicated in its WARN Notice filing that the reason for the 22 terminations was “closure.” - Traeger: Lays Off Staff, Closes Facility as Sales Declined
Traeger, Inc. said it would launch an extensive cost-cutting program involving layoffs and the closure of its Meater office in Leicester, UK, as Q2 results missed plan due to the impact of tariffs. Sales fell 13.6 percent, well short of analyst estimates. - VF Corp.: CEO Hints at More Cuts Ahead While Improving Processes
Bracken Darrell said the company is already working on process and organizational changes that will contribute to unlocking another $500 million to $600 million in operating income expansion, with half of that coming from SG&A expenses alone. - VF Corp.: Confirms New Global Cuts; Analysts React to January 2025 ICR Presentation
The parent company of The North Face, Vans, Timberland, Jansport and Dickies, among other outdoor and street lifestyle brands, continues to take action against the goals set out in its Reinvent turnaround plan. - Walmart: Cuts Roughly 1,500 Corporate Jobs in Restructuring
The retailer is streamlining its global tech and Walmart U.S. operations, affecting approximately 1,500 employees. The U.S. retail cuts are mainly in the end-to-end operations teams and the Walmart Connect marketing organization. - Winnebago Industries: Implements Additional Iowa Layoffs
Winnebago Industries will lay off an additional 121 employees at its Iowa facilities in Charles City and Waverly. The RV manufacturer plans to consolidate those operations into its Forest City and Lake Mills facilities.
Image courtesy Walmart
