The fat years are over! After the bike industry was buzzing like never before in 2020 to 2021, it's now getting the comeback: inflation, war and the energy crisis are putting a huge dent in consumer sentiment. This is also being felt by the bike trade, which is also having to cope with a glut of bikes and parts. Rumors are circulating that too many bikes are arriving at specialist retailers, that these are no longer affordable for the stores due to low demand and that bankruptcies are imminent.

However, it is not just specialist retailers that are becoming the focus of the markedly cooling demand. Specialized is taking a radical step: 8 per cent of the workforce is to be made redundant. It had already been announced beforehand - that outside of Switzerland - a large proportion of the brand ambassadors would lose their jobs at Big S.

Scott Maguire, CEO at Specialized, is controversial about this step. On the one hand, he explains the need to lay off a large number of employees - and at the same time, he explains how bright the future should be for his brand. "It is now time to adapt to the current environment and this has led us to make some extremely difficult decisions today. I would like to pay tribute to the colleagues who have left us and thank them for all their contributions, hard work and commitment to Specialized. We are focused on ensuring that they are fully supported during this difficult time. It may be hard to see at the moment, but the future of cycling and the future of our brand is bright." - said Maguire.

specialized.com