Daily News Digest

by Mark Zalewski

June 21, 2016

In today’s CT Daily News Digest: Sagan returns to top of UCI rankings; Boels Dolmans continues women’s WorldTour dominance; Dimension Data ‘blown away’ by support for Keagan Girdlestone; Professional Cyclist Association to present revised security plan; Miguel Angel Lopez extends with Astana; Huffman, Walle wrap-up North Star Grand Prix wins; Giant USA lays off employees; AG2R-La Mondiale announces Tour de France team; Mike Woods returns after crash, focuses on Olympics; Copenhagen bidding for Tour de France start; On-bike at Tour de Suisse, stage 9; Behind the scenes at the Tour de Suisse; Race starter gets a little too close to Peter Sagan

Giant USA lays off employees

by CyclingTips

Continuing a recent trend in the bicycle industry, Giant USA is laying off ten employees and consolidating departments at its headquarters due to a downturn in market conditions.

“These are steps we must take in order to create sustainable growth for our business and our retail partners,” said general manager JT Thompson in a statement.

“As Giant becomes more focused, our organization has had to right size our resources to market conditions while enabling us to better serve our retailers and riders. I know I can count on everyone to help us move forward,” Thompson said.

Giant Manufacturing, the parent company of Giant USA, anticipated a tough year in its first quarter results announced in May.

US distributor Hawley-Lambert also announced layoffs last week, and both Shimano and SRAM reduced their workforces earlier in the year in response to lower year-over-year sales numbers. Specialized also had significant lay-offs at the beginning of 2016 as part of a re-org.

Click through to read more at Bicycle Retailer.