Golf brand Parsons Xtreme Golf (PXG) is restructuring its retail stores as part of a move that will see around 125 staff being laid off, according to reports.
As first reported by mygolfspy.com (opens in new tab), PXG is switching from seven to five day a week opening at its 21 retail outlets, leading to about 65 people losing their jobs.
Around 60 jobs are also being lost from in and around PXG headquarters in Scottsdale, Arizona, making it around 10 percent of its employees being laid off in total.
A PXG spokesman was quoted by Golfweek (opens in new tab) as saying the company is “rightsizing” itself by making the moves due to the market in golf equipment sales slowing down following a boom during Covid.
PXG came onto the scene 10 years ago with a bold and brash new marketing campaign, and from premium clubs it has branched out into more affordable hardware ranges, apparel and most recently a first line of Xtreme golf balls.
But the market for golf equipment is now hitting something of a downward trend after a boost from an uptake in participation during the pandemic.
John Krzynowek, the co-founder of Golf Datatech, which tracks golf industry sales information, says that sales of golf equipment continue to take a downward turn due to inflation and the threat of a recession.
“January 2023 was a continuation of what we saw in the fourth quarter of 2022, with significant headwinds such as inflation, asset value declines, and the threat of an impending recession impacting woods, irons, putters, bag and shoe sales,” said Krzynowek.
(Image credit: Future)
PXG launched as a premium-priced hardware brand but the best PXG clubs now include a lower-priced range, highlighted by the 0211 driver, which is arguably the best budget golf driver and up there with some of the very best golf drivers on the market.
Golf Monthly has reached out to PXG for comment.
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