Bicycle industry crisis: Layoffs at Canyon: boss Roman Arnold speaks plainly

Roman Arnold, the founder of Canyon, returned to the company management as Executive Chairman in September 2025. The previous CEO Nicolas de Ros Wallace left the company by mutual agreement after three and a half years. With this change in leadership, Canyon wants to return to its founding values - and continue to grow at the same time.

However, the company made headlines at the end of January: Up to 320 jobs - around 20% of the workforce - are to be cut at the Koblenz and Amsterdam sites.

It is an advantage for the employees that Canyon has a works council - which is rather unusual in the bicycle industry. In addition, IG Metall and Canyon concluded the industry's first collective agreement in 2024. This means that the planned redundancies must be negotiated and justified with the works council. The works council can also demand a social plan and make its own proposals. How things will actually proceed for the employees is currently still open - negotiations are still ongoing.

Poor figures at Canyon

The majority of Canyon has been owned by the Belgian investment holding Groupe Bruxelles Lambert (GBL) since 2020. The company's poor figures have been known for some time: The value of the Canyon shareholding fell from 460 to 261 million euros - leading to a write-down of almost 200 million euros at GBL.

In 2024, Canyon reported sales of 792 million euros - albeit with a double-digit loss. Turnover also fell in the first three quarters of 2025 and losses were again recorded. Canyon also recently had to recall large quantities of e-bike batteries. According to Global Communications Manager Ben Hillsdon, however, these recalls were neither the reason for the poor figures nor for the planned cancellations.

We asked Canyon founder and Executive Chairman Roman Arnold why this step was necessary and how it came about.

Interview: Canyon boss Roman Arnold: "The industry is in the same boat"

You've been back as Executive Chairman since September, but you only own a third of the company shares. How much can you still decide?
ARNOLD: As Executive Chairman, I can make a lot of decisions. The pressure is great and I have to deliver - and that is currently the case. I am convinced that we are on the right course at the moment.

During the Covid period, it seemed as if the bicycle industry was trying to catch up with the automotive industry: Top managers from the outside instead of garage founders at the top. That was also the case for your competitor YT Industries - and for you with the former Nike manager Nicolas de Ros Wallace. Was that a good development?
Partly, partly. There was a lot of new impetus, new management processes, valuable contacts and fresh perspectives. This has been particularly helpful in building up our business in the USA. Such developments are part of a company's growth.

The real problem was that many investors got involved at that time and there was a real gold-rush atmosphere. At the time, hardly anyone wanted to realise that this boom would not last forever. The result was a drop in demand and disappointed investors. In my view, the external managers cannot be blamed for this.

In my eyes, the current crisis is home-made. Many in the industry were blinded by success. How could they have ignored market saturation?
I agree with you. Canyon got off relatively lightly, other manufacturers have been hit much harder. Of course, there were additional factors, such as the war in Ukraine or a certain lack of innovation in the mountain bike sector. Nevertheless, this development should not have happened.

Ultimately, however, anyone who is part of the industry will also feel the consequences. Even companies that have not been completely swept up in the gold-rush mood are now feeling the effects. In this situation, the entire industry is in the same boat.

You are now back at the helm after your break. 320 employees are to leave the company. Who decides who has to go?
You can imagine that such a decision is anything but easy. Anyone who knows me knows how important responsibility is to me.

This is not about individuals, but about roles within the company. Some of these positions were created during a phase in which many assumed that the boom would last. In short, the organisation has grown considerably during this time - and now we need to streamline it again.

What are your specifications?

We need clearer structures, unambiguous competences and responsibilities. The aim is to create a company that can work faster and more efficiently. We employ around 1,600 people worldwide and I am responsible for ensuring that as many of them as possible have a secure job in the future.