SoulCycle Lays Off Long-Time Employees With Zero Severance
Some of the laid-off employees had been with the company for five years—a situation that left people feeling “angry” and “blindsided.”
Late last month, the indoor cycling company SoulCycle quietly made the decision to institute layoffs across the company—a result of the devastating effects of the coronavirus pandemic, which had forced the company to close its studios in the U.S., Canada, and the UK in March.
Exactly how many employees were let go is unclear. A source close to the company said 5 percent of the company was laid off, although SoulCycle told one of the departing employees the actual figure was more than 10 percent, according to audio of a meeting reviewed by VICE. SoulCycle did not respond on the record to a request for clarification.
But as affected employees learned that they would be departing the company, they also discovered something else: Many of them would be… READ MORE @ VICE