Hayes Performance Systems lays off less than 10% of its workforce

August 23, 2024

Hayes Performance Systems laid off an unspecified number of employees Thursday, the latest company in the industry to show the effects of a stagnant bike market.

An industry source familiar with the situation told BRAIN that less than 10% of the workforce that manufactures brakes, suspension systems, wheels, and components was affected company-wide. LinkedIn lists the number of Hayes employees to be 500-plus.

This is the first layoff at Hayes since the market began slowing following the pandemic surge in bike demand. Bicycle Retailer