Mindbody lays off unknown number of SLO workers amid ‘economic uncertainty’
Mindbody has laid off an unspecified number of workers as the San Luis Obispo-based health and wellness tech company attempts to build “a more resilient platform,” a representative confirmed Wednesday.
According to company media representative Tracy Richmond, Mindbody laid off workers due to “new challenges” for the industry post-coronvirus pandemic.
“While the wellness industry continues to recover from the impact of the pandemic, increased economic uncertainty and inflationary pressures have slowed progress and created new challenges for our industry to navigate,” she told The Tribune. “While these changes are incredibly difficult, and will be deeply felt across our entire organization, they will ultimately help us build a more resilient platform capable of meeting evolving market dynamics while better positioning our company for long-term growth.”
The company previously laid off and furloughed hundreds of workers at the start of the pandemic in April 2020, though it said it planned to hire back a large number of them once it was feasible to do so.
On Wednesday, Richmond did not specify how many people were let go in the latest round of layoffs, what positions they held or which offices the majority of those laid off were from. She did not immediately respond to a request for further comment.
According to GetLatka, which maintains a database of “software as a service” (SaaS) companies like Mindbody, the San Luis Obispo-based company had roughly 1,590 employees as of 2021 and produced about $350 million in yearly revenue.
Mindbody, whose software is used around the world by health and wellness providers, has offices in San Luis Obispo; Missoula, Montana; New York; Sydney; Scottsdale, Arizona; Pune, India; London and Singapore, according to its website.
The news of the layoffs comes only a few short months after a leadership change at Mindbody.
In August, the company announced president of ClassPass and Mindbody Marketplace Fritz Lanman would take over as CEO as of Sept. 3. Lanman succeeded former CEO Josh McCarter, who transitioned to the Mindbody Board of Directors.
Lanman was the CEO of ClassPass before Mindbody acquired the monthly fitness and wellness subscription service in October 2021.
“I am excited to build on the strong foundation the company has built over the years and bring new approaches to help accelerate our growth and deliver greater value for wellness business owners and wellness enthusiasts alike,” Lanman said in a news release in August. “There is tremendous opportunity in the wellness industry right now, and Mindbody is poised to capitalize on market changes and challenges.”
At the time, the company said the outlook for the wellness industry was “strong,” with data showing consumer bookings per studio were reaching pre-pandemic levels, while the ClassPass platform was reporting roughly 10% more in-person class bookings than before the pandemic.
On Wednesday, Richmond noted that the San Luis Obispo campus at 4051 Broad St. “remains open and Mindbody team members are welcome to utilize the SLO office as part of the company’s flexible remote work policy.”
This story was originally published October 26, 2022 at 12:06 PM.
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