American bike brand Cannondale is set to close down its Connecticut headquarters as part of a restructuring by its parent company, Pon Holdings and its US brands; the move is set to see multiple jobs lost.

For years, the company’s global headquarters has been in Wilton, Connecticut, but operations there will be wound down over the next eight months, with the company’s global base moving to Woudenberg, Netherlands, which currently serves as the European HQ.