MEQUON, Wis. (BRAIN) — Hayes Performance Systems laid off an unspecified number of employees Thursday, the latest company in the industry to show the effects of a stagnant bike market.
An industry source familiar with the situation told BRAIN that less than 10% of the workforce that manufactures brakes, suspension systems, wheels, and components was affected company-wide. LinkedIn lists the number of Hayes employees to be 500-plus.
This is the first layoff at Hayes since the market began slowing following the pandemic surge in bike demand.
Hayes Performance Systems owns and operates Hayes Disc Brakes, Manitou, Reynolds, ProTaper MTB, and SUNringlé brands and manufactures domestically and internationally. In addition to bikes, Hayes manufactures braking systems for powersports, industrial equipment, and for the defense sector.
