Previous layoffs had trimmed its number of employees to around 1,600 before this week’s reduction. Announced as a 20% cut, the latest reduction would take that number to about or below 1,300. Most of whom lost their jobs located in Utah.
The company said cuts were due to supply chain issues and reduced demand after the pandemic exercise boom.| Updated: Nov. 15, 2022, 12:12 a.m.
It also would not disclose the exact number of employees cut; but the spokesperson said it was a cut of 20%. That would take the number of employees to about or below 1,300, a reduction of around 300 people. The staff reduction will “support our millions of members across the iFIT and Sweat platforms, and position the company for long-term success,” the spokesperson said.
Employees will be given severance packages, the spokesperson said, which “will be individually calculated” with a week’s pay for every year the person has been with the company, up to 12.
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