Further consolidation is leading to office closures and layoffs across the Revelyst organization, which is the new name for the outdoor products division of Vista Outdoor.
The news was announced Friday as Revelyst trims expenses and streamlines its business ahead of its spinoff as a standalone, outdoor-focused entity.
The headquarters of Fox Racing in Irvine will become the hub of parent Revelyst’s Adventure Sports division.
The move to consolidate Revelyst’s entire Adventure Sports group in Irvine, where the head of the division, Jeff McGuane, is based follows last year’s news that Bell and Giro would move to Irvine. Friday’s news adds CamelBak, QuietKat Electric Bikes, Blackburn, and other brands to the Irvine office.
The strategy comes with office closures and layoffs for the broader Revelyst organization.
“While our business is stable, headwinds exist, and we need to make changes to grow and meet the financial plans we’ve established and believe in,” Revelyst CEO Eric Nyman said in a statement Friday.
Nyman went on to say, “Previous ways of working need to be challenged and adjusted to position us to where we aspire to be. The decisions to close offices and reduce headcount aren’t taken lightly, and though they are intended to position us for the future, we understand that they are difficult in the immediate.”
Revelyst did not specify the number of layoffs that will occur across offices. A spokesperson for parent Vista did not immediately respond to a request for comment Friday.
Adventure Sports is one of three divisions under Revelyst. The other two are Precision Sports and Technology and Outdoor Performance.
Precision Sports, which includes the Foresight Sports and Bushnell Golf businesses, will have operations based out of San Diego. Meanwhile, Outdoor Performance, with brands such as Simms Fishing Products and Bushnell, will be consolidated in Bozeman, Montana.
The latest update is part of a plan Vista Outdoor and Revelyst disclosed in November, called Gear Up. It’s aimed at creating synergies across everything from supply chains and back-end technologies to real estate.
Gear Up, combined with other restructuring measures, is estimated to cut about $125 million in costs.
Vista Outdoor released earnings on this week – read details about how Revelyst and the rest of company performed here.