Business & Tech
SoulCycle To Close Newport Beach Location, 18 Others: Report
SoulCycle is expected to close 19 locations, including five in California, after the company "oversaturated" some markets, execs said.
NEWPORT BEACH, CA — SoulCycle is expected to close its Newport Beach location alongside 18 others in the U.S. and Canada, Insider reported Tuesday.
The closures are a result of shifts caused by the pandemic and SoulCycle being oversaturated in some areas, according to SoulCycle Executives. SoulCycle CEO Evelyn Webster announced the decision in an all staff meeting, according to Insider.
The company will relocate some staffers and lay off many others.
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Newport Beach is one of five California locations to shut its doors, including: Soma, San Jose, Beverly Hills and Del Mar. Other closures are in New York, Washington, D.C., Illinois, Massachusetts, Florida, Georgia, Washington State and Canada
Read the full story from Insider.
Find out what's happening in Newport Beach-Corona Del Marfor free with the latest updates from Patch.
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