SoulCycle is slimming down.
The once-trendy fitness chain (some people have been known to take multiple classes a day) will close 20 of its 82 studio locations across the country in the coming weeks, the company announced Friday in a Zoom meeting at style of a town hall with its employees.
The private company, owned by Equinox Group, will close four locations in New York City, in Midtown, Soho, West 92nd St. and Park Slope, Brooklyn, along with a Hamptons outpost at Water Mill, the sources said.
The closures leave 13 locations in Manhattan, two in Brooklyn and another three in the East End: Bridgehampton, East Hampton and Montauk.
Some 75 workers are scheduled to be cut from a workforce of 1,350, the company said.
However, high-profile instructors such as Stacey Griffith will remain, a source said, adding that part-timers may also lose their jobs or be transferred elsewhere.
The closures are attributed to changing exercise habits after the COVID lockdowns.
“As cyclists continue to return to classes at the studio, there have been many changes as a result of the pandemic,” a SoulCycle spokesperson told the Post in a statement. “Some of these changes have been based on geography and therefore we are naturally reassessing our portfolio of studies to assess whether there is an opportunity to adjust size in certain markets. This will allow us to continue to provide riders with the SoulCycle experience they know and love.”
SoulCycle isn’t the only spiral spinning shop. Peloton, which peaked during the pandemic, saw her value tank after the shutdown and announced on Friday that she will. eliminate 800 jobs and raise the price of their exercise bikes.
soul cycle closed all of its locations in the early days of the pandemic and threw his own bike at home to keep up with Peloton.
The directors of the related companies, including founder Steve Ross and CEO Jeff Blau, are investors in Equinox, along with Equinox CEO and Managing Partner Harvey Spevak.
SoulCycle had to do some soul searching after accusations of racism, shame and instructors having sex with clients, a 2020 report revealed.
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