The corporate notified its staff about upcoming job cuts on Wednesday. In keeping with studies from Swiss Radio and Tv and different retailers, a good portion of the workforce will probably be affected. At the moment, Flyer employs 170 people, and insiders point out that roughly 155 staff are anticipated to lose their jobs.
Flyer AG was acquired by the bicycle-purchasing cooperative ZEG in 2017, with the purpose of leveraging ZEG’s robust buying energy and intensive distribution community. At the moment, ZEG had consolidated round 670 sellers in Germany and greater than 1,000 throughout Europe.
Nevertheless, this technique is not viable. After a gentle rise in demand for electrical bikes over a number of years and document gross sales through the pandemic, curiosity has sharply declined since 2023. ZEG has cited a “tough market scenario within the bicycle trade.” As a consequence, Flyer is planning to maneuver manufacturing abroad and additional streamline operations at its Huttwil workplace. The corporate characterizes this restructuring as an “unavoidable enterprise step.”
Round a 12 months in the past, Flyer had already laid off roughly 80 staff, which constituted a couple of quarter of its workforce at the moment. This earlier restructuring aimed to “safe the long-term way forward for the corporate.” The job cuts in October 2023 affected each manufacturing and administrative positions, and had been equally attributed to “the present tough market scenario in the complete bicycle trade with a market correction following the pandemic.”
Flyer isn’t alone in dealing with challenges within the e-bike market. In July 2023, Dutch producer VanMoof filed for insolvency. In September 2023, Lavoie, a British e-bike provider linked to McLaren Utilized, introduced its acquisition of VanMoof. The struggles continued into 2024 with the insolvencies of Vässla and Onomotion.
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