Specialized lays off 8% of its workforce.

One of the most important brands in the world of cycling, Specialized , has sent a statement explaining the transformation for this 2023.

In total, it has laid off 8% of its workforce among all countries.

This is the statement:

“Over the past three years, the industry has changed at an incredible rate, proving that cycling is stronger and more impactful than ever before. At the same time, the time for transformation and changes for the future has come.

This week, Specialized has made the difficult decision to say goodbye to 8% of the workforce worldwide.

With the global economy changing at a faster rate than anticipated, coupled with rapid changes in the cycling industry, the organization's adjustment will allow the brand to adapt while continuing to invest in innovation.

 "We are transforming the company around our purpose “Pedal the Planet Forward”. Our priority is to provide the best service to cyclists, distributors and communities, as well as being the best place to innovate and grow.

Now is the time to adapt to the current circumstances and ultimately we have had to make extremely difficult decisions today.

I want to thank and recognize the colleagues who left all their effort, hard work and dedication to Specialized.

Our goal is to offer them as much support as possible during this difficult time. It may be hard to see right now, but the future of cycling and the future of our brand is bright..” –Scott Maguire, Specialized CEO