Under Armour Inc. UAA, -3.28% UA, -3.90% stock fell nearly 3% in Wednesday trading after the athletic company announced an updated restructuring plan that includes higher charges.
After further review, the Company has identified further opportunities and on September 2, 2020, the Companys Board of Directors approved a $75 million increase to the restructuring plan, resulting in an updated 2020 restructuring plan of approximately $550 million to $600 million of total estimated pre-tax restructuring and related charges, Under Armour said in a corporate filing.
The plan also includes 600 job cuts, which comes with a $30 million charge for benefits and severance. In February, Under Armour announced a plan that had the potential for $325 m…
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