Fox Parent Confirms Layoffs, Office Closures
Fox parent Vista Outdoor said Monday it is laying off an undisclosed number of workers and shuttering some offices in response to macroeconomic challenges.
Moving Brands to Fox Headquarters in Irvine
Fox’s Irvine headquarters will see Vista’s Bell and Giro employees relocate to Southern California as the company closes those brands’ Northern California offices by Sept. 1.
The retooled Irvine office will become what Jeff McGuane, president of Vista Outdoor’s Action Sports division, called an Innovation Center.
“Fox will be Fox, Bell will be Bell, and Giro will be Giro,” McGuane said in a statement on the changes.
Job Cuts Companywide
Vista said the layoffs happened across the company’s brand and corporate teams.
The company said the layoffs and office closures are in response to elevated inventory levels at retail along with rising interest rates and inflation.
“Today’s economic headwinds and intense competition for consumer time and wallet requires radical changes in how we operate our business and deliver value for our customers and riders,” McGuane said.
Vista, which owns three dozen outdoor and sporting goods brands, including Fox, Bell, Giro, and CamelBak, declined to say how many workers will be laid off.
For more details about the layoffs and closures – and details about leadership changes at Vista Outdoor – visit our sister site The Daily.
Related story: Vista Outdoor CEO Exits at Board’s Request
