Nice work by Tony Covey to report and analyze in depth the adidas Group closing the Adams Golf factory in Plano, Texas but not the brand, and laying off many in Carlsbad, with the final number coming in at a 15% cut in the global workforce.
The cuts come as the company deals with “profitability challenges” according to adidas Group CEO Herbert Hainer. What a stunning turn of events for a company that was riding high just 18 months ago before deciding to release three drivers in a calendar year. Sadly, much of this news will be attributed to the unhealthy state of golf or the long winter instead of to poor business decisions and rapid-fire product cycles.
Not mentioned in the Covey’s item and excellent analysis but widely known to the industry is the abandonment of Hack Golf, not even a near a one-year anniversary of the initiative’s announcement.