Wheels has cut five more jobs, blaming the continuing economic downturn.The cycle livery and bike sales business laid off three staff last November when it closed its Front Street location.The Royal Gazette was told long-serving, senior employees were among those let go last year and among yesterday’s layoffs.“Due to the economic downturn in the Bermuda economy, Wheels Cycles Hamilton Ltd (on Dundonald Street) had to make five positions redundant yesterday,” a spokesman for Wheels said.“The company has been downsizing since September of 2011 when Wheels Cycles Astwood Ltd (on Front Street) was closed, and this is another phase in our downsizing.”The spokesman continued: “The closure of our Front Street branch left us with excessive inventory and we are now in the process of reducing inventory that was carried over to our Dundonald Street Branch by having a 30 percent sale reduction.”A person who knew one of those laid off said some of the staff had served up to 20 years with Wheels and also now stood to lose their health insurance.“This is very concerning what they are doing,” the person said.Wheels is a sister company to the MarketPlace Supermarkets.