Hydrow

Boston-based fitness startup Hydrow has laid off around 30 employees, marking its second round of cuts in less than six months. This follows a previous layoff in July 2022 that affected 35% of its then 200-person workforce. The latest reductions could represent nearly a quarter of the company's current staff as it navigates a post-pandemic slowdown in demand for at-home fitness equipment and increased competition, notably from Peloton's entry into the rowing machine market. CEO Bruce Smith stated the company is focusing on achieving profitability while continuing to develop new offerings. Hydrow, which sells high-end rowing machines and streaming workout memberships, has also adjusted its product pricing upward in recent months.

Boston-based fitness-tech startup Hydrow has laid off approximately 35 percent of its workforce this week, affecting at least 70 employees out of a total of more than 200. The company, which sells high-end rowing machines and digital workout content, is facing challenges in the at-home fitness market as pandemic-driven demand slows. CEO Bruce Smith stated the move aims to reduce costs and build a sustainable, profitable business, despite the firm having recently raised $54 million and seen revenue triple from 2020 to 2021. This follows similar struggles across the industry, with competitors like Peloton and Tonal also implementing significant cuts. Hydrow, founded in 2017, remains focused on its core offerings like live-coached classes and plans to position itself for a future IPO when market conditions improve.