Under Armour To Cut Many More Jobs

Under Armour on Thursday announced an update to its massive, $200 million restructuring effort. Shares fell about 1% after the company said it will spend $10 million to cull its workforce by 3%. Under Armour said Thursday that it will spend $10 million on severance payments not previously reported as it works to reduce its global workforce by 3% It's the second round of layoffs in the past year for the struggling athletic brand, w hich cut about 140 jobs at its Baltimore headquarters last August, when it first announced the $200 million restructuring plan.