Layoffs at cult.fit & cultsports
People from mid and top management (with fat paycheques) across org laid off on friday & today. About 100-120 people affected.
Source: Heard from a friend. + mentioned in the Cross org emails by mukesh
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Inke margin k chakkar me employees ki dal roti band ho Jani h bc
Not sure tbh that margins were the reason for any layoffs. It could just be that everyone is doing it so why don't we, even when we are in acceptable margin range. With the current scenario, if they fire 2 out of 10 people, the other 8 would take up the additional responsibilities of the 2 people out of fear. It's just human psychology.
Like I have pointed out many time before on GV having worked with so many founders, most dont know Jack shit about what they are doing
Felt it was too expensive. The novelty factor gone, fundamentals caught up.
What was the novelty factor
It's just a gym.
It had to happen eventually.. with all the losses catching up.. i feel Decathlon is better than cult at its products and customer experience..
Anyone can breakdown cult profits like gym vs play vs food and merchandise etc