Approximately 120 employees are affected.
Affected staff were notified Wednesday, a spokesperson told SFGATE, and employees will receive 11 weeks of base pay and one additional week for every year they’ve been with the company. Health care and stock benefits will also reportedly remain in effect for at least two months, with the company paying for COBRA through the end of the year. Mental health and career counseling is also available, the spokesperson said.
“This very tough step will strengthen our position both financially and strategically, allowing us to serve our members, employees and instructors for many years to come,” Rogier said.
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