Mindbody lays off workers because of coronavirus: ‘We have faced the unavoidable truth’
Update: ‘A tough day at Mindbody.’ Coronavirus forces company to lay off, furlough 700 workers
San Luis Obispo-based tech company Mindbody is laying off workers as coronavirus throws businesses around the world into chaos.
The company confirmed Thursday that due to the impact of COVID-19 on its global customers and clients, it has decided to layoff and cut hours of some workers.
“After weeks of studying the effect of COVID-19 on our global customers, we have faced the unavoidable truth that our own business is impacted, and we must reduce the size of our team with layoffs and furloughs,” read a statement emailed to The Tribune on Thursday morning.
Mindbody employs thousands of workers around the world, including at offices in Great Britain, Australia and India.
Information on the number of local workers impacted by the layoffs and furloughs was not provided in the statement.
According to the statement, the company intends to hire back “as many employees as possible once the impacts of the pandemic subside.”
“Our team members are the heart of our business and we are so thankful for each individual that has helped Mindbody in our mission of connecting the world to wellness,” the statement concluded.
Mindbody was founded in San Luis Obispo by CEO Rick Stollmeyer in 2000. Over the years, it has grown into one of the largest and most recognized tech businesses in San Luis Obispo County, specializing in health and wellness software.
In 2019, the company was acquired by investment firm Vista Equity Partners after a rough turn on the stock market left the once-public company in a financial lurch. Since then the business has continued its operations, and even expanded into new markets in India.
This story was originally published April 2, 2020 at 10:13 AM.
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