Hydrow Announces Layoffs, Citing ‘unprecedented economic circumstances’
The Boston-based at-home rowing company said..
Hydrow, the Boston-based connected fitness company, has announced that it’s reducing its employee headcount due to unprecedented economic circumstances. The layoffs announcement by Hydrow comes just a few months after Peloton confirmed its intention to enter the rower market.
The company that produced an at-home rowing machine captured celebrity backers, including Lizzo, Justin Timberlake, Aaron Rodgers, Whitney Cummings, and Kevin Hart signed on as Creative Director of Hydrow.
Approximately 70 Hydrow employees are impacted by the layoffs.
“Hydrow has reached a stage of growth and size that allows us to make a strategic choice for growth. This decision involves a strategic shift in our workforce. In the wake of the unprecedented economic circumstances we’re collectively facing, Hydrow has made the incredibly difficult decision to conduct a reduction in force in an effort to right-size the business,” Hydrow CEO and founder Bruce Smith said in a statement.
“This strategic pivot will allow us to reduce our overall operating costs and lean into our amazing group of members to support the growth of our community to deliver the same extraordinary experience that our Members have come to expect from Hydrow.”
Earlier this year, the at-home connected rowing company announced a $55 million Series D funding round and said it had over 200,000 connected rower users. Tonal, F45 and Whoop also recently announced staff reductions in the face of economic uncertainty.
