SoulCycle cuts staff pay by 25 percent while putting studio crew on indefinite furlough
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SoulCycle is cutting employee pay by 25 percent in response to studio closures across the United States, United Kingdom, and Canada due to the novel coronavirus pandemic. In an internal memo to full- and part-time staffers this week, SoulCycle said it will also furlough select employees without pay to allow them to seek potential unemployment benefits, with adjustments expected to take place over the next 30 days.
“In an effort to protect our teams in the wake of Covid-19 pandemic yet remain in the strongest position to reopen our studios globally, SoulCycle has had to make a number of difficult decisions that impact individual roles and payroll at all levels of the organization, including implementing pay reductions and furloughs for…