Adidas Launches Employee Student Loan Support Program

Source:China Sport ShowRelease time:14-Jun-2023Clicks:

Article From：frontofficesports

Adidas is offering up to $100 per month to its full-time U.S. employees trying to pay off student loan debt.

Employees who work 30 hours or more per week can enroll in Adidas’s Student Loan Support Program once they’ve worked there for one year. Adidas will contribute up to $1,200 per year to eligible employees, and the sports apparel giant says it’s now among just 7% of employers to offer student loan support.

“This is an exciting new program for our people who said that student loan support would significantly help them. Paying for education should not hold our teammates back, so we are happy to support them with this benefit,” said Rupert Campbell, President of Adidas North America.

Full-time employees from all Adidas divisions—including corporate, retail, and distribution centers—can enroll in the program. Adidas employs 10,000 people in the U.S. The company has also launched a new Financial Wellness Program to offer employees free access to financial coaches and live seminars and webinars.

Adidas reported $5.82 billion in Q1 2023 revenue — a 1% dip from $5.85 billion a year prior. A federal judge recently denied Adidas’s request to recover $75 million worth of funds it paid to rapper Kanye West, whose Yeezy shoe deal with the company was terminated following anti-Semitic comments he made on social media.