CorePower has conducted temporary layoffs at all of its locations. (Submitted)
Clarification: Four of the five franchisees who bought in, back when the company sold franchise rights, are still paying yoga teachers. The story below did not make clear the difference between corporate-owned stores and franchisee stores.
The nation’s largest chain of yoga studios has laid off its yoga teachers.
In an email to employees obtained by BusinessDen, Denver-based CorePower – which operates around 200 yoga studios, with 18 in the Denver area – said it will conduct “layoffs at various levels of our corporate and studio teams effective March 30.”
“At this time, we anticipate that this will be a temporary layoff,” the letter said.
CorePower, which is based in Industry in RiNo, closed its gyms March 16. The company said in the letter to employees that it stopped charging customers earlier this month.
“Given the rapidly evolving nature of this pandemic and its effect on the business and broader economy, at this time, we cannot provide greater certainty about when we will be able to rehire you,” the note said.
CorePower declined to comment.
The company is paying full-time employees one month of COBRA insurance.
CorePower was launched in 2002 by Trevor Tice out of a Capitol Hill studio. The company was sold last year to TSG Consumer Partners.
CorePower has conducted temporary layoffs at all of its locations. (Submitted)
Clarification: Four of the five franchisees who bought in, back when the company sold franchise rights, are still paying yoga teachers. The story below did not make clear the difference between corporate-owned stores and franchisee stores.
The nation’s largest chain of yoga studios has laid off its yoga teachers.
In an email to employees obtained by BusinessDen, Denver-based CorePower – which operates around 200 yoga studios, with 18 in the Denver area – said it will conduct “layoffs at various levels of our corporate and studio teams effective March 30.”
“At this time, we anticipate that this will be a temporary layoff,” the letter said.
CorePower, which is based in Industry in RiNo, closed its gyms March 16. The company said in the letter to employees that it stopped charging customers earlier this month.
“Given the rapidly evolving nature of this pandemic and its effect on the business and broader economy, at this time, we cannot provide greater certainty about when we will be able to rehire you,” the note said.
CorePower declined to comment.
The company is paying full-time employees one month of COBRA insurance.
CorePower was launched in 2002 by Trevor Tice out of a Capitol Hill studio. The company was sold last year to TSG Consumer Partners.
I own a franchise location in CO and have NOT laid off any of my 30 employees. This article should mention this.
Agreed! And I know this article is a month old at this point, but as a former employee who was part of the layoffs, I think it’s worth being transparent and noting that the layoffs at the corporate headquarters were permanent, not temporary. The instructor layoffs are presumably temporary and will be reinstated when studios reopen, but there were a lot of us with jobs in Customer Success, Sales, and other departments who were permanently laid off. I’ not sure how that hasn’t been covered in any of the news articles.