IG Metall reacts to job cuts at Canyon: Critical review of plans announced

IG Metall Koblenz has responded to the plans of bicycle manufacturer Canyon to cut up to 320 jobs to be cutreacted with a critical statement. In a press release dated 21 January 2026, the union commented on the Koblenz-based company's announcement. "IG Metall Koblenz takes note of Canyon's plans to cut jobs. We are aware that the industry has overcapacity and that there is a certain amount of pressure to adapt. We are not yet convinced that the planned cutbacks of this magnitude are necessary," Ali Yener, First Authorised Representative of IG Metall Koblenz, is quoted as saying in the press release. The union is fundamentally prepared to support companies in the region in remaining competitive and operating flexibly on the market. However, it must first be clarified which specific objectives are being pursued with the measure - whether it is about return targets or about adapting Canyon to current and expected market conditions.

Works Council and trade union plan joint action

IG Metall has announced that the next step will be to discuss the plans with the works council. "We need to know how the number of 320 jobs has come about and which areas are to be affected. Our aim will be to develop alternatives to the job cuts and prospects for the employees affected," explains Markus Friedel, development secretary and IG Metall representative at Canyon. A works meeting for the entire Koblenz site is planned for next week at the invitation of the works council. Following this, the works council and IG Metall intend to make a joint public statement and invite the public to a press conference. The union emphasises that despite the commitment of Roman Arnold, founder and current Executive Chairman of Canyon, to the Koblenz site, one in four jobs at Canyon in the region is to be lost.

Background to the job reduction plans at Canyon

The bicycle manufacturer had previously announced its intention to cut up to 320 of the total of around 1600 jobs. The majority of the jobs are to be cut at the Koblenz site and some at the Amsterdam site, where 60 people are currently employed. The reason given for this drastic step is the ongoing Crisis in the bicycle industry stated. "The bicycle industry is in a phase of consolidation, while global factors such as US tariffs, geopolitical tensions and subdued economic forecasts are creating additional challenges," the company had stated as its reasoning. The works council has already been informed and talks have begun.

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Importance of the works council at Canyon

The fact that a works council was established at the Koblenz-based bicycle company in 2024 could now pay off for the employees affected. IG Metall and the Koblenz-based bicycle manufacturer concluded the first collective labour agreement in the bicycle industry in the same year. The management must now negotiate with the works council about the planned redundancies and explain why the move is necessary. The works council can force the employer to draw up a social plan and make proposals for an agreement. According to IG Metall, Canyon currently employs around 1200 people in the Koblenz region.

Economic situation of Canyon

Canyon's economic situation had deteriorated significantly in recent years. The majority of the company has been held by the Belgian investment holding Groupe Bruxelles Lambert (GBL) since 2020. The poor figures for Canyon have already become known through GBL's publications. The value of the Canyon shareholding fell from 460 million to 261 million euros, prompting the investor GBL to write down its stake by almost 200 million euros. In 2024, Canyon reported a turnover of 792 million euros and a double-digit loss. In the first three quarters of 2025, turnover fell again and further losses were recorded.