The bike manufacturer and mail-order company Canyon is planning massive job cuts. After years of strong growth, particularly during the coronavirus boom between 2020 and 2023, business has recently taken a turn for the worse. The Koblenz-based company is now planning to cut up to 320 jobs. The majority of the jobs are to be cut at the Koblenz site and some at the Amsterdam site. The Dutch branch currently employs 60 people. Company spokesman Ben Hillsdon told TOUR that other branches worldwide are not affected by the job cuts. The reason given for the drastic step is the 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 states as the reason for the job cuts. The works council has already been informed and talks have begun. Hillsdon promised TOUR that there would be no restrictions on service for customers.
Canyon works council must be involved
The fact that there is a works council is now paying off for the employees. This is a rarity in the bicycle industry. IG Metall and the Koblenz-based bicycle manufacturer concluded the first collective labour agreement in the bicycle industry in 2024. 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. It is therefore not yet clear what the future holds for Canyon employees.
Statement from company founder
For Roman Arnoldfounder and Executive Chairman, says that this step is particularly painful. "Canyon is a grown community, united by a passion for cycling. It is therefore particularly painful that we have to part ways with valued colleagues," Arnold is quoted as saying in a press release. This makes it all the more important for him to organise this path as responsibly as possible. For the upcoming negotiations, the aim is to create an open climate between all parties involved from the outset. The company is endeavouring to make the process transparent, fair and with the greatest possible respect for the performance of the employees affected.
>> Crisis in the bicycle industry
>> Canyon road bikes
>> Canyon Endurace CF 7 AXS
>> Bad business 2024
Poor figures at Canyon
The majority of Canyon has been held by the Belgian investment holding Groupe Bruxelles Lambert since 2020. The poor figures for Canyon have been known for some time due to 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 losses were once again recorded. Canyon recently had to recall large numbers of e-bike batteries. According to Hillsdon, this was not the reason for the poor company figures and the planned redundancies. GBL's annual report for the 2024 financial year explicitly mentions the quality problems in the e-bike sector in addition to the difficult market environment. The sale of certain models had to be temporarily suspended due to a recall.
Note: The first version stated that the works council has existed since 2024. This is incorrect: the works council has existed for longer, but the first collective agreement in the German bicycle industry has existed since 2024.
Kristian Bauer
Editor
