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Specialized Lays Off 8% of Employees

specialized layoffsPhoto: Krynica Zdroj
19 Comments

The latest staple outdoor company to announce massive layoffs: one of the U.S.’ biggest names in bicycles and bike gear. In a brief press release Wednesday, Specialized announced major cuts.

“Over the last three years, the industry has changed at an incredible pace and shown that cycling is more powerful than ever,” the release begins.

Then it states the company is releasing 8% of its workers worldwide.

The California-based bike, component, and clothing manufacturer employed 1,500 people as of 2016, according to the most recently-available unofficial statistics.

Specialized said in the release that the layoffs amounted to an effort to adapt to the shifting — and growing — cycling industry landscape. They occurred a month after the brand terminated its entire ambassador program, a move that blindsided many athletes under the Specialized umbrella.

Full release below.

specialized.com

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Mr Pink
Mr Pink
1 year ago

Surprised it’s only that after canceling orders for a million bikes.

biker
1 year ago

It must be admitted that Spesh are the industry’s absolute, hands-on champions at using corporate BS. You just can’t not appreciate how they managed to combine “cycling is more powerful than ever” with announcing laying off their staff in such a way that it sounds like another huge victory. Kudos!

Mike
Mike
1 year ago
Reply to  biker

Also, they reached this “painful decision” 24 hours after announcing how excited they were to drop $14.5 MILLION on a new building in Boulder. They said they had outgrown the previous one, yet STILL laid 15 people off in Boulder, which wasn’t a large operation to begin with.

Charlie
Charlie
1 year ago

So long and thanks for all the fish.

Dinger
Dinger
1 year ago
Reply to  Charlie

I hope they remembered their towels..

AK_Ben
AK_Ben
1 year ago
Reply to  Dinger

Engage Bistro Drive.

Mike
Mike
1 year ago
Reply to  Dinger

Funny enough, the towel I brought in for after bike rides was the ‘Don’t Panic’ towel my wife gave me a few years ago.

(I definitely remembered it when I left)

whatever
whatever
1 year ago

Sorry for those laid off, I wish you well. But Specialized has lead the way in trying to fleece the consumer on everything bike while quality has been so so. Now they among many other brands, will find it hard to walk back their prices and/or improve quality. May they and the car companies/dealers suffer.

Bike Shop Guy
Bike Shop Guy
1 year ago

I guess this is what happens when a company such as Specialized moves away from what made them so successful in the first place. Cutting out their retailers in hopes of building margin only lead to local bike dealers cancelling tons of orders, dropping them as a brand and then stocking more of their competitors.
I know that we have built a nice fan base for Giant thanks to us moving away from Specialized. It hasn’t hurt us nor our clients but I assume it’s hurting Specialized!

Big Dave
Big Dave
1 year ago

How many times have we seen Big S do something that upsets literally everyone, with no consequence?

They are still one of the largest brands and are still the most common bike on my local trails and roads by far and we have every brand imaginable for sale here.

The same folks saying “This is awful!!” will be riding a 2024 Stumpy I guarantee it…

Our outrage is so temporary.

El Pataron
El Pataron
1 year ago

Specialized buys former Pearl Izumi building
Published January 11, 2023
by Steve Frothingham
LOUISVILLE, Colo. (BRAIN) — Specialized Bicycle Components bought the award-winning office building here previously owned by Pearl Izumi, for $14.9 million.

The company said Thursday that it would use the space for an innovation center.

Gawd I h@te specialized.

Deputy Dawg
Deputy Dawg
1 year ago
Reply to  El Pataron

How could they time the announcement of these two decisions any worse?!

Scott
Scott
1 year ago
Reply to  Deputy Dawg

They also laid off somewhere around 100 people a week before Thanksgiving last year.

Mike
Mike
1 year ago
Reply to  Deputy Dawg

They couldn’t have. I was one of that 8%, and 3 months later, I’m still pissed.

Greg
Greg
1 year ago

Sounds about right

blahblahblah
blahblahblah
1 year ago

i smell a price hike coming

Andrew
Andrew
1 year ago

Tough decision but a necessary one.

Shafty
Shafty
1 year ago

Don’t you love how money is tight just as they purchase a $15million building, which presumably needs to be staffed. What a steaming pile that company is.

Don’t buy Specialized
Don’t buy Specialized
1 year ago
Reply to  Shafty

The over 12% of us that were laid off agree that the “S” is a steaming pile. They care nothing for the rider or LBS, just profits.

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