SoulCycle to close 19 studios and layoff staffers. See the list.

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See the 19 studios SoulCycle plans to close, laying off staffers in 'oversaturated markets,' CEO Evelyn Webster tells employees in leaked all-hands meeting

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SoulCycle CEO Evelyn Webster announced the closures in an all-hands meeting with staffers on Friday morning, according to leaked audio from the meeting shared with Insider.

The closures include locations in New York, California, Massachusetts, Illinois, Florida, Georgia, Washington state, and Washington, DC. Seven of the 19 closures are in the New York City metro area. "Unfortunately, this does mean given the number of studios and the number of markets that we're talking about, that this will ultimately lead to a number of our teammates losing them employment with SoulCycle," she said.

"Some of these shifts have been based on geography and therefore we are naturally reevaluating our portfolio of studios to assess whether there is an opportunity to right-size in certain markets," the spokesperson said."This will allow us to continue to provide riders with the SoulCycle experience they know and love."

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