Tonal, the connected fitness manufacturer, is laying off about 35 percent of its 750-person workforce, according to a report from CNBC.
Chief Executive Officer Aly Orady in an interview with CNBC emphasized the need to be profitable, particularly as the company explores an initial public offering.
A spokesperson confirmed to SFGATE that its “strategic restructuring” would result in a layoffs across all corporate departments with the news revealed by Orady during a company all-staff meeting Wednesday morning.
“While sales have continued to grow at an unprecedented rate, so have the costs of our business, particularly in light of the macroeconomic climate and global supply chain challenges,” Tonal said in a statement shared with SFGATE. “This wasn’t an easy decision, but it was the responsible one, as it will allow us to honor our commitment to best serve our members as a healthy business for years to come while growing at a more sustainable rate.”
Tonal’s primary product is its all-mounted, 24-inch touch screen with digital weights and a suite of workouts.
Photo courtesy Tonal
