SoulCycle is slimming down.
The once-popular exercise chain — some people have been known to take multiple classes in a day — will close 20 of its 82 studios nationwide in the next few weeks. , the company made the announcement at a town hall-style Zoom meeting with employees on Friday.
The privately held company, owned by Equinox Group, will close four New York City locations — Midtown SoHo, West 92nd Street and Park Slope in Brooklyn — along with the Hampton outpost in Water Mill, sources said. I’m here.
The closures will leave 13 locations in Manhattan, 2 in Brooklyn and 3 in the East End (Bridgehampton, East Hampton and Montauk).
About 75 of its 1,350 employees will be on the chopping board, according to the company.
But high-profile instructors like Stacey Griffiths will remain, sources said, adding that part-time workers could also lose their jobs or move elsewhere.
The closure has been blamed on changes in exercise habits following the COVID lockdown.
“There have been many changes as a result of the pandemic as riders continue to return to classes in the studio,” a SoulCycle spokesperson told the Post in a statement. “Some of these shifts are based on geographic factors. So we’re naturally re-evaluating the studio’s portfolio to assess if there’s an opportunity to right-size it for a given market, so we can bring the SoulCycle experience riders know and love to riders. can continue to provide to
SoulCycle isn’t the only spiraling spin shop. Peloton, which has peaked during the pandemic, saw a worthy tank after the lockdown and announced on Friday it would cut 800 jobs and raise prices for stationary bikes.
SoulCycle closed all locations early in the pandemic and launched its own home bike to keep up with the peloton.
Principals of affiliates, including founder Steve Ross and CEO Jeff Brau, along with Equinox executive chairman and managing partner Harvey Spebak, are Equinox investors. is.
SoulCycle had to do some soul searching after allegations of racism, fat shaming, and instructors having sex with clients, a 2020 report revealed.
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