MyGolfSpy has confirmed that PXG has laid off 125 employees, slightly more than 10 percent of its workforce. Employees were notified over a Zoom call today.
Sixty of the impacted employees worked out of PXG retail locations.
According to PXG Founder and CEO Bob Parsons, most of the company’s brick-and-mortar business is by appointment. With business light on Sundays and Mondays, PXG made the decision to shift to a five-day week from seven.
Parsons previously made a similar switch in his power sports division with positive results.
The remaining 65 cuts were across all areas of the business.
Post-COVID Right-Sizing
During the COVID boom, PXG grew rapidly, hiring a significant number of new employees.
With indications that the golf business is past its peak and that sales will likely be down industry-wide in 2023, downsizing would seem inevitable.
Parsons describes the layoffs as “right-sizing” adding, “this makes us a stronger and more agile company moving forward.”
Whether this is an isolated case or simply the first notable golf brand to cut staff remains to be seen.
With layoffs on the rise across the U.S., it’s perhaps wishful thinking to believe the rest of the golf world will escape entirely unscathed.
Gary Dulin
1 year ago
Mr Parsons was an accountant before he was a tech guy. I think he knows what he’s doing business wise. Some DTC brands get swallowed up by other entities & disappear. PXG makes quality stuff, not the longest on course but known for forgiveness & playability. The pricing has been all over the spectrum but a great set of irons for 1/2 the price of the big boys is a market I am all in on. I am in the camp that says PXG is around for a long time.