Adidas cuts jobs at Gurugram technology hub

Adidas confirmed it is reducing several functions inside its India technology organization, saying the changes are meant to streamline the company, strengthen critical capabilities and support long-term success. Employees were told in stages, with one group receiving layoff letters on Sept. 15 and another reportedly asked to hand over responsibilities through Dec. 15.

The reduction underscores how multinational consumer brands are tightening back-office and technology spending even in growth markets such as India. For Adidas, the decision may help contain operating expenses and sharpen execution, but it also suggests the company is prioritizing efficiency over rapid tech-team expansion.

The stock has already been under pressure, with Adidas shares recently trading at 81.53, below their 50-day moving average of 92.57 and 200-day moving average of 90.12, while the relative strength index sat at 14.9, a conventional technical reading that points to deeply oversold conditions. The weakness leaves investors focused on whether cost cuts can stabilize margins before the next earnings update.

For the wider apparel sector, the layoffs add to signs that corporate restructuring is spreading beyond U.S. tech and into global consumer companies as they work through softer demand and tighter spending discipline. The next catalyst will be whether Adidas follows the India cuts with broader operational changes or whether management leans on them as a one-off efficiency push.