While Zwift is growing considerably – at least measured by the number of users of the virtual training program – the company is not exactly doing well financially yet. After already laying off around eighty employees in early 2023, a new round of layoffs is now to follow, with as many as hundred employees having to hand in their contracts.
It is a somewhat remarkable fact: Zwift is growing in user numbers, rolling out one update after another to make the program even more interesting for cyclists, but it has not yet managed to make Zwift profitable. CO-CEO Kurt Beidler was appointed just last year to turn the tide, and he immediately began his work by firing eighty employees. In recent months, however, he has not been able to make a positive change, because in addition to the new layoff of thus hundred employees, Beidler is also leaving the company. Eric Min will remain CEO of Zwift.