**Restructuring**: Under Armour Plans Major Layoffs Costing Millions – Shares Drop 10%
Baltimore, Maryland – Athletic apparel retailer Under Armour is facing a significant restructuring plan that is expected to result in employee layoffs and cost between $70 million and $90 million. The company has not disclosed the exact number of employees affected, but a portion of the funds will go towards employee severance and benefits. Following the announcement of the restructuring plan, Under Armour’s shares experienced a significant drop of about 10% during premarket trading. The …