Denver, CO 80206 In the meeting, Webster also cited "fairly significant geographic shifts" among SoulCycle's customer base as a significant reason behind the closures. 415.285.7685, Union Street 55 Court St A SoulCycle spokesperson did not share the number of expected layoffs, but said in a statement that the downsizing was partially based on "shifts as a result of the pandemic. It's . Are you a SoulCycle employee with a story to tell? Chestnut Hill, MA 02467 617-658-9010. Our daily newsletter is FREE and keeps you up-to-date with the world of HR. In light of the ongoing Coronavirus (COVID-19) developments and government mandates, keeping our riders, instructors, and staff safe is our absolute top priority. The company told. Fitness chains and independent gyms at large have been hit hard, with roughly one-third of fitness locations closing during the pandemic. Locations include Los Angeles, Miami and San Francisco and the company also operates brands including Blink Fitness, Precision Run and Pure Yoga, which permanently closed at least one location in. As for Southern. New York, NY 10014, SoulCycle Inc. is a corporation registered in Delaware, USA with its headquarters at 609 Greenwich Street, New York, NY 10014, 500 Boylston Street (on the corner of Clarendon Street and St. James Avenue), Wynn Plaza: 3131 S Las Vegas Blvd Suite: 207, Vaccine Required - 1225 North Wells Street, Broadway Plaza, 116 Broadway Lane (Macy's Parking Garage Entrance off of South Broadway). Region selector. Flywheel, a similar indoor spin concept, permanently closed in September 2020. xhr.setRequestHeader('Content-Type', 'text/plain;charset=UTF-8'); 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. New York, NY 10014 Roubaix has timezone UTC+01:00 (during standard time). London, LND W11 2DY Just two weeks after SoulCycle announced an offe | SoulCycle will close 20 studios and lay off about 75 people while Peloton will lay off about 780 people, increase the price on its Bike+ and Tread, close some retail locations and ask remaining workers to return to the office. 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. 120 Wilshire Blvd Shops at Merrick Park WTOP.com | Alexa | Google Home | WTOP App | 103.5 FM. 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. Daily News Updates During the pandemic, roughly one-third of fitness locations closed, resulting in the loss of 1.5 million jobs, CNN reported, citing a report from IHRSA, a fitness advisory group. The-CNN-Wire 196 Kent Avenue 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. Chestnut Hill 200-230 Boylston Street. OurSoul Shopis still open online 24/7 in the US and Canada. Equinox-owned SoulCycle, known for its indoor cycling and spinning workouts, is closing 19 of its 83 studios in the U.S. and Canada. But SoulCycle, which has largely focused on in-studio classes, was hit with the other side of that trend. That resulted in the loss of 1.5 million jobs, according to a report from IHRSA, a fitness advisory group. Tell Hank: (855) 247-HANK. The closures include locations in New York, California, Massachusetts, Illinois, Florida, Georgia, Washington state, and Washington, DC, as well as the company's remaining Canada location in Toronto. But affordable gym chains, like Planet Fitness, appear to be thriving. Effective March 16, by 8pm local time, we're closing all studios in the US and Canada. 115A Portobello Road "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. The outdoor SoulCycle pop-up at Union Market will close June 30. Fitness chains and independent gyms at large have been hit hard, with roughly one-third of fitness locations closing during the pandemic. About 75 workers are slated for the chopping blocks out of a workforce of 1,350, the company said. The closings leave 13locations in Manhattan, two in Brooklyn and three others on the East End Bridgehampton, East Hampton and Montauk. A New York SoulCycle studio is pictured in September of 2020. The news comes as another signal that people's exercise habits continue to adapt amid the ongoing COVID-19 pandemic. 113 S 16th Street 19102 SoulCycle is closing 19 studios, CEO Evelyn Webster told staffers on Friday. navigator.sendBeacon('https://www.google-analytics.com/collect', payload); Expect to sprint throughout Kaley's class and dance to some of the . This website is not intended for users located within the European Economic Area. SoulCycle CEO Evelyn Webster told employees the news on Friday, adding that the closures will result in some layoffs.CNN reported that around 75 of the company's 1,350 employees will be laid off. if( 'moc.enilnoefiltseb' !== location.hostname.split('').reverse().join('') ) { 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. Meanwhile, Meta is delaying deciding whether to hire interns so that it has more time to assess staffing needs, reported Bloomberg. All Rights Reserved. However, high profile instructors, like Stacey Griffith, will remain, a source said, adding that part-time workers may also lose jobs or be moved to other locations. "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," a SoulCycle spokesperson told CBS MoneyWatch. 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. The Square, 700 S Rosemary Ave #132 SoulCycle announced this week it's permanently closing its Yaletown spin studio in Vancouver. Please enter valid email address to continue. Sucharita Kodali, principal analyst at business research and analysis firm Forrester, also told Insider that the "good news is that they shouldn't be getting any viable new competitors in the space. 202.332.7685, Georgetown daily newsletter. SoulCycle has three locations in D.C. 94 Kraft Avenue READ THIS NEXT: This Popular Retail Chain Is Closing Stores, Starting Tomorrow. + Find classes by city, studio, and . 925.239.7685, Roslyn In light of the ongoing Coronavirus (COVID-19) developments and government mandates, keeping our riders, instructors, and staff safe is our absolute top priority. With things changing by the minute, well be updating with new information as we have it. ADVERTISEMENT The studio has been closed since November 2020 due to the COVID-19 pandemic, although at the time SoulCycle said the closure would be temporary. 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. Sarah Lawrence for Vox. ", She continued: "You can imagine a process like this is extraordinarily involved, very, very complex. SoulCycle currently operates 21 outdoor locations. 2549 Kirby Drive It scrapped its initial public offering at the last minute a few months ago and Tonal cut 35% of its staff in July. 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. Vaccine Required - Marin Country Mart as well as other partner offers and accept our. 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. 1935 14 Street NW 310.559.7685, Manhattan Beach Rye Brook , NY 10573 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. SoulCycle is slimming down its number of nationwide locations. & 2022 Cable News Network, Inc., a WarnerMedia Company. More details about Roubaix in France (FR) It is the capital of canton of Roubaix-1. It's not just Peloton that's spinning into trouble: Indoor cycling studio SoulCycle is closing about 25% of its locations. 484.434.2200, Rittenhouse Square Sunbeam Television Corp Entertainment Wynn Plaza: 3131 S Las Vegas Blvd Suite: 207 212.501.7685, Hudson Yards As riders continue to return to in-studio classes . SoulCycle , to Close 25% , of Its Locations . Beverly Hills is one of five. The popular product may be contaminated with dangerous bacteria, the agency confirms. Access your favorite topics in a personalized feed while you're on the go. Chicago, IL 60610 908.206.1300, La Jolla Boston, MA 02114 West Palm Beach, FL 33401 That resulted in the loss of 1.5 million jobs, according to a report from IHRSA, a fitness advisory group. Chevy Chase, MD 20815. 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. This story has been shared 171,468 times. Oxygen is life.". San Diego, CA 92122 212.860.1300, NoMad 858-333-6190, Las Vegas But he still got a raise, Despite toxic disaster, railroads still want single-person crews, Disneyland removes controversial zip-a-dee-doo-dah lyric from its parade, Walgreens will not distribute abortion pill in 20 states. Peloton had received a boost from Covid-19 closures, as consumers looked to exercise from home when gyms shuttered. Vaccine Required - 2105 9th Avenue 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. On February 28, it sent an email to members confirming the studio would not open its doors again. "Unfortunately, this does mean given the number of studios and the number of markets that we're talking about, that this will ultimately lead to a number of our teammates losing their employment with SoulCycle," she said. 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. [SoulCycle] is, without any doubt, a really intense workout. Greenwich, CT 06830 Atlanta, GA 30326 Coral Gables, FL 33146 Makers of in-home fitness equipment are also struggling, including NordicTracks parent company iFit Health and Fitness. 500 Boylston Street (on the corner of Clarendon Street and St. James Avenue) The privately-run company, owned by Equinox Group, Copyright 2023 CBS Interactive Inc. All rights reserved. Aug. 13, 2022, 12:21 AM PDT. 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. 734-412-7900, Ardmore Plus, you can check in for class, shop our retail collection, and see your full SoulJourneyall in one place. Its yet another signal that consumers exercise habits continue to change as the pandemic wears on. 21 Rye Ridge Plaza SoulCycle will close about 20 of its 83 studios in the coming days. The company is headquartered in the West Village in Manhattan, New York City.. Most of the SoulCycle closings will be in New York, but locations in California, Massachusetts, Illinois, Florida, Georgia and Washington state will also be The coronavirus pandemic has prompted the closure of fitness clubs across the nation, with popular spots from Orangetheory, SoulCycle, LA Fitness, Gold's Gym and Equinox .