Under Armour's tough year is not getting any easier


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Sportswear giant Under Armour will cut almost 300 jobs. Elizabeth Keatinge (@elizkeatinge) has more.
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Sportswear maker Under Armour said that it will cut roughly 2% of its workforce as part of a restructuring plan to regain its footing at a time when sporting goods chains are closing and shoppers increasingly want to browse for goods online. 

Under Armour said Tuesday that its directors have given a green light to a plan that will end leases, and offer severance and benefits totalling $15 million to workers affected by the job eliminations.  The plan is expected to cost between $110 and $130 million this year. 

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