Tim Boyle of Columbia Sportswear at the company's headquarters in Beaverton in 2012.

Columbia Sportswear CEO Tim Boyle on Thursday said the company expects to complete a round of layoffs at its U.S. headquarters by the end of March.

On a call with stock analysts, Boyle said the company will reduce U.S. personnel costs by 3% to 5% and most of the cuts will impact corporate workers.

Columbia employs 9,450, including 3,140 at its corporate headquarters in Washington County, according to its last annual report.

In December, Nike, which is based nearby, also announced layoffs. Nike said it expects to incur as much as $450 million in restructuring charges in the quarter that ends Feb. 29, mostly from severance costs.

Boyle announced Columbia’s layoffs as part of a quarterly earnings report in which the company came up short of expectations for sales and profits.

“Our overall headcount and personnel expenses have outpaced the growth of our business,” Boyle said on the call.

Boyle said the layoffs will be “done with respect and thoughtfulness, consistent with our core values, while taking the actions required to get back to sustainable growth.”

He said the layoffs should be completed by the end of March.

In the fourth quarter, Columbia

reported $1.06 billion in sales and $1.55 in earnings per share, below analyst expectations of $1.08 billion and $1.95.

In a press release, Boyle said he expects 2024 to be a “challenging year.”

“Retailers are placing orders cautiously, and economic and geopolitical uncertainty remains high,” he said. “We are working diligently to maximize sales in this environment, while optimizing our product, brand marketing and marketplace strategies to accelerate growth in 2025 and beyond.”