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Puma sets short-time work for 1,400 staff

By
Reuters API
Published
Mar 24, 2020
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German sportswear company Puma announced on Tuesday that 1,400 staff would switch to shorter work hours until April 13 due to the coronavirus and said its three top executives would not take their full pay for April.


Photo: Puma - X-Technology Swiss R&D AG


Germany allows for companies to apply for state aid to keep people working but switch to shorter hours.

Puma said earlier this month it was abandoning the 2020 guidance it gave on Feb. 19 that had assumed the crisis would be short-lived.

 

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