reported that employees whose contracts would be terminated included many working at company-owned stores in the US and across the world.
In its statement yesterday announcing the job losses, Specialized said: “Over the last three years, the industry has changed at an incredible pace and shown that cycling is more powerful than ever. It’s clear the time has come for transformation and shifts for the future. CEO Scott Maguire – who replaced company founder Mike Sinyard in the role in March last year – commented: “We are transforming the company around our purpose to Pedal the Planet Forward.
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For a start, they charge far too much for their products.