iFit

iFIT, the Logan, Utah-based fitness technology company, has conducted another round of layoffs, reducing its global workforce by 20%. This follows previous job cuts and is attributed to ongoing supply chain challenges and a decline in consumer demand as the pandemic-driven home fitness boom subsides. The company, known for interactive exercise equipment like NordicTrack treadmills, is restructuring to navigate a post-pandemic market adjustment.

Utah-based fitness company iFIT has conducted another round of layoffs as it navigates financial challenges, including settling a significant lawsuit and seeking additional capital. The company, which produces connected fitness equipment and content, has placed its once-anticipated initial public offering on indefinite hold. These layoffs follow a previous round just weeks before Christmas, despite earlier claims of strong performance. The exact number of employees affected in this latest reduction was not specified, but the cuts reflect ongoing restructuring efforts within the competitive home fitness industry.

iFit on 2021-12-08.