Topgolf remains popular, though following a private equity acquisition, the golf and entertainment company is going through a major transition.
According to a report from D Magazine, "hundreds" of employees have been laid off by Topgolf, as the U.S.-based company has new majority ownership. The company is now owned by Leonard Green & Partners (LGP), a California-based private equity firm.
Topgolf, which has more than 100 premier locations nationwide, appears to be changing how it goes about operating its business. And that includes how things are operated on a location-by-location basis.
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One Topgolf employee told D Magazine that approximately five positions per location have been eliminated.
The employee, speaking anonymously to D Magazine, estimated that “half of the management team” at their location was let go.
"The cuts follow another round of layoffs last year, when Topgolf reduced its workforce by 300 employees after tariffs carved an estimated $40 million from the company’s balance sheet," the outlet reported.
The company has a new CEO, David McKillips.
"Some of his first moves included letting go of the company’s top technology executive and top marketing leader to replace them with C-suiters following him from Chuck-E-Cheese, a business he helped lead out of bankruptcy."
Topgolf's layoffs spark reaction online
Topgolf's decision to make cuts has sparked a lot of reaction in the business world.
"Topgolf is one of those companies that’s not going to survive the credit cycle," one speculated.
"Once the economy slows nobody will be going there to hit golf balls," one added.
"Still love going there, hope it sticks around," another added.
It'll be interesting to see what Topgolf looks like as we head into the future.
