Indoor cycling studio SoulCycle announced that it is closing about 20 of its 83 studios and laying off about 75 of its 1,350 employees, a sign that peoples' exercise habits are still changing. According to the news outlet, SoulCycle is shuttering 20 of its 83 U.S. studios in in the coming days: six in the New York City area, five in California, and others in Washington, D.C., Massachusetts, Illinois, Florida, and Georgia. } ); Vaccine Required - 2105 9th Avenue Overall, the company will shutter around 20 of its 83 studios, including six in the New York City area and others in Washington, DC, Massachusetts, Illinois, Florida and Georgia. August 16, 2022 / 1:14 PM We adhere to structured guidelines for sourcing information and linking to other resources, including It's not just Peloton that's spinning into trouble: Indoor cycling studio SoulCycle is closing about 25% of its locations. New York, NY 10001 212.639.1300, Financial District NOW WATCH: The most expensive durian ever sold was auctioned for $48,000. 0:00. "As riders continue to return to in-studio classes there have been many shifts as a result of the pandemic," a SoulCycle spokesperson told CNN. Fitness chains and independent gyms at large have been hit hard, with roughly one-third of fitness locations closing during the pandemic. } 240 East 54th Street Shops at Merrick Park Back in June, Nike announced that it would be exiting the Russian market completely by permanently closing all of its brick-and-mortar stores in the country. ", "Some of these shifts have been based on geography and therefore we are naturally reevaluating our portfolio of studios to assess whether there is an opportunity to right-size in certain markets," the spokesperson said. 350 Amsterdam Avenue After its successful launch in the Hamptons last summer, SoulCycle Outside opened in Boston, Palm Beach, and Hoboken. 212.996.7685, Williamsburg Westport, CT 06880 New York, NY 10023 2023 WTOP. Sunbeam Television Corp 196 Kent Avenue We'll also post all studio reopenings here. The high-intensity indoor cycling trend is perhaps falling out of favor as SoulCycle plans to close 20 locations across the U.S. and Peloton recently announced it is laying off nearly 800 workers. SoulCycle had to do some soul-searching following allegations of racism, fat-shaming and instructors having sex with clients, a 2020 report revealed. East Hampton, NY 11937 It will also close down in Toronto, which means a complete exit from Canada. As riders continue to return to in-studio classes, there have been many shifts as a result of the pandemic, a SoulCycle spokesperson told the Post in a statement. navigator.sendBeacon('https://www.google-analytics.com/collect', payload); The. Chestnut Hill 200-230 Boylston Street. 203.683.7685, Hoboken Sign up for notifications from Insider! 305.407.8801, Coral Gables These Popular Athletic Chain Competitors Are Both Closing Locations, This Popular Retail Chain Is Closing Stores, Starting Tomorrow, For more up-to-date information, sign up for our About 75 workers are slated for the chopping blocks out of a workforce of 1,350, the company said. KTVZ-TV FCC Public File | FCC Applications |, Breaking News As soon as we are given the all-clear and feel its safe to reopen our doors, youll be the first to know. Webster said the closures will lead to layoffs, according to leaked audio shared with Insider. These aren't the first closures that athletes have had to deal with in 2022. As a result, Insider reported that SoulCycle CEO Evelyn Webster told staff the following during an Aug. 12 company meeting, "The timing was appropriate to look at our studio footprint by market to understand whether we continue to believe that we had indeed oversaturated some markets, and the conclusion is that after much work and analysis, that perhaps we have. Our new IT Engineer will contribute to an unprecedented transformation of . In the coming days, SoulCycle will shutter around 20 of its 83 studios: six in the New York City area, five in California and others in Washington, DC, Massachusetts, Illinois, Florida and. +44 2031 371880, Soho London We are happy to honor a refund of any Soul Early bookings that were used for this upcoming week or extend any earned bookings for use at a future date. The New York City-based fitness company is closing its locations in San Jose, San Francisco SoMa, Beverly Hills, Newport Beach, Del Mar, reported CNN. Staffing shortage is the biggest reason for the decision, said Laurie Schalow, chief corporate affairs officer at Chipotle, according to a CNN report. But affordable gym chains, like Planet Fitness, appear to be thriving. But affordable gym chains, like Planet Fitness, appear to be thriving. 266 Mason Street + Find classes by city, studio, and . Subscribe to our email alerts 14TH Stay up to date with what you want to know. San Francisco, CA 94114 CNN reports that indoor cycling studio SoulCycle is getting ready to close approximately 25% of its locations. New York, NY 10003 Please enter valid email address to continue. "We've been able to analyze a lot of data that very clearly indicates to us that many of our riders have moved," she said. New York, NY 10001 Most of the SoulCycle closings will be in New York, but locations in California, Massachusetts, Illinois, Florida, Georgia and Washington state will also be If you're a fan of indoor cycling, you might be disappointed by these new closure announcements. We will have a select group of employees monitoring our studio accounts over the coming weeks so feel free to reach them there if you have an issue. 201.935.6408, Short Hills 12 West 27th Street How many SoulCycle studios are in the US? The popular product may be contaminated with dangerous bacteria, the agency confirms. CNN reports that SoulCycle will shutter around 20 of its . WTOP.com | Alexa | Google Home | WTOP App | 103.5 FM. Fitness chains and independent gyms at large have been hit hard, with roughly one-third of fitness locations closing during the pandemic. xhr.setRequestHeader('Content-Type', 'text/plain;charset=UTF-8'); The high-intensity indoor cycling trend is perhaps falling out of favor as SoulCycle plans to close 20 locations across the U.S. and Peloton recently announced it is laying offnearly 800 workers. SoulCycle was forced to close its studios as Covid first hit American shores, and some didn't reopen until about a year later as state and local rules allowed - including its flagship in New York. Washington, DC 20007 All Rights Reserved. The privately-run company, owned by Equinox Group, will shutter four New York City locations in Midtown, Soho, West 92nd St. and Park Slope, Brooklyn along with a Hamptons outpost in Water Mill, sources said. 21 Rye Ridge Plaza The news comes soon after Peloton - whose stock is down more than 90% from its pandemic-induced peak in late 2020 - announced a major shift in strategy. By Andrea Swalec Published August 16, 2022 Updated on August 16, 2022 at 6:00 pm. A New York SoulCycle studio is pictured in September of 2020. 3400 Around Lenox Dr Sarah Lawrence for Vox. The principals of the Related Companies including founder Steve Ross and CEO Jeff Blau are investors in Equinox, along with Equinox exec chairman and managing partner Harvey Spevak. Meanwhile, Meta is delaying deciding whether to hire interns so that it has more time to assess staffing needs, reported Bloomberg. It scrapped itsinitial public offering at the last minutea few months ago andTonal cut 35%of its staff in July. New York, NY 10014 SoulCycle seeks an IT Engineer to join a small team dedicated to: improving and maintaining our IT infrastructure and implementing new technologies that serve our employees and create new experiences for our customers. Bryan O'Rourke, a fitness analyst at the International Health Racquet and Sportsclub Association, told Insider that Peloton is struggling as many people return to in-person fitness after the height of the pandemic, while SoulCycle hasn't been able to regain its pre-pandemic momentum because of increased competition from Peloton and other at-home fitness offerings. New Arrivals; Price: Low to High; Price: High to Low; Best Sellers Effective March 16, by 8pm local time, were closing all studios in the US and Canada. Rye Brook , NY 10573 First published on August 16, 2022 / 1:14 PM. 310.640.7685, Pasadena Makers of in-home fitness equipment are also struggling, including NordicTrack's parent company iFit Health and Fitness. 617.996.7685, Bellevue It's . Fitness chains and independent gyms at large have been hit hard, with roughly one-third of fitness locations closing during the pandemic. As riders continue to return to in-studio classes there have been many shifts as a result of the pandemic, a SoulCycle spokesperson told CNN Business in a statement, saying some of those shifts are geography-based and the company assess[ed] whether there is an opportunity to right-size in certain markets.. Get browser notifications for breaking news, live events, and exclusive reporting. The closures are a result of shifts caused by. if( 'moc.enilnoefiltseb' !== location.hostname.split('').reverse().join('') ) { The closings leave 13 locations in Manhattan, two in Brooklyn and three others on the East End Bridgehampton, East Hampton and Montauk. Its yet another signal that consumers exercise habits continue to change as the pandemic wears on. Contact this reporter via email at bbiron@insider.com or by encrypted messaging app Signal at +1 (646) 768-4706. Chicago, IL 60601 832.968.7685, Uptown London region currently selected. The-CNN-Wire & 2022 Cable News Network, Inc., a WarnerMedia Company. Customers who frequent a studio thats closing were informed via email over the weekend, and about 75 of SoulCycles approximately 1,350 employees will be laid off as a result of the closures. Fitness chains and independent gyms at large have been hit hard, with roughly one-third of fitness locations closing during the pandemic. The firm operates on a pay-per-class . Market data provided by ICE Data Services. The privately held company, owned by Equinox, did open some SoulCycle studios outdoors and evencreated an $2,500 at-home bikein an effort to weather the pandemic. The two companies often go head-to-head, but now they're both downsizing in a major way. London, LND W11 2DY We believe our high-quality affordable fitness experience will resonate now more than ever as Americans are seeking value and feeling the rising costs of everyday items, such as food and gas, CEO Chris Rondeau said in an earnings call, adding that hes noticed that people are trading down from high-priced gyms. The company began closing studios in March 2020, with some shuttering for good. Copyright 2023 CBS Interactive Inc. All rights reserved. A New York SoulCycle studio is pictured in September of 2020. The once-hot exercise chain some folks have been known to take multiple classes a day is closing 20 of its 82 studio locations nationwide within the next few weeks, the company announced Friday in a town hall-style Zoom meeting with its employees. Please note, we are experiencing a high volume of inquiries at the moment but we are doing everything we can to get back to you as soon as possible! In the coming days, SoulCycle will shutter around 20 of its 83 studios: six in the New York City area, five in California and others in Washington, DC, Massachusetts, Illinois, Florida and Georgia. Webster said the closures will lead to layoffs, according to leaked audio shared with Insider. And if that's not enough, there's a . Greenwich, CT 06830 Tech companies who feel theyve achieved economies of scale with their traditional office workforce are reducing headcount in that environment, while employment numbers on the front lines, such as linguistics, manufacturing and everything thats involved with non-desk work, continue to grow, Dan Johnston, co-founder and CEO of WorkStep, a San Francisco-based workforce retention technology company, told HRD. Webster said that while the company intends to relocate some staffers to other SoulCycle locations, some staffers can expect layoffs, though she did not specify how many. Dedham SoulCycle members were notified about the closure over the weekend, along with members at studios in New York, California, Illinois, Georgia, Florida and Washington, DC. xhr.open('POST', 'https://www.google-analytics.com/collect', true); 200-230 Boylston Street Anal sex 'taboos' put 'generation of women' at risk amid b Canadian teacher with size-Z prosthetic breasts placed on paid leave, What's next for Buster Murdaugh after dad's murder conviction, life sentence, Patrick Mahomes' brother accused of assault, forcibly kissing owner at bar, Alex Murdaugh shaves head for latest mugshot after learning his fate for killing his wife, son, US home prices just did something they haven't done since 2012, Heather Dubrows youngest child comes out as transgender, Tom Sandoval drops out of interview amid backlash from Raquel Leviss scandal, Rebel Wilson says Meghan Markle isnt as naturally warm as Prince Harry, Tom Sizemore And The Dangerous Burden of Desperation, Tom Sandoval breaks silence on Ariana Madix split amid cheating claims. Hoboken, NJ 07030 For any questions about class series extensions, please emailyoursoulmatters@soul-cycle.com.

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