Under Armour to Restructure Under Returning Founder Kevin Plank

Under Armour Inc. will restructure its business amid a continued decline in revenue and make men’s apparel its highest priority as the company realigns itself under founder Kevin Plank.

The athletic-wear brand is going through a transitional period as Plank, who stepped down from the CEO position in 2019 amid a series of scandals, retook the role in April. The restructuring process has been approved by Under Armour’s board and includes layoffs, though management did not say how many employees will be impacted by the cuts.

“This is not where I envisioned Under Armour playing at this point ...