Under Armour to eliminate 50 corporate positions to cut costs

Under Armour Inc. is eliminating approximately 50 corporate positions as the company looks to cut costs and move toward profitability. The Baltimore-based sportswear company confirmed on Thursday that it plans to lay off employees across several areas of the business. The elimination of the positions comes as the company’s new CEO Stephanie Linnartz recently laid out a new plan to return Under Armour (NYSE: UAA) to growth.