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.
Weird spin on this article at the end. Why the connection with the Church, and how does that impact layoffs / business operations? This is why the public distrusts most of what they read in the media, because of irrelvant, misguided and misinformed spin.