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The Wall Street Journal
Peloton to Cut 500 More Jobs in Last Bid for Turnaround
Peloton Interactive said it plans to cut about 500 jobs, roughly 12% of its remaining workforce, in the company’s fourth round of layoffs this year as the connected fitness-equipment maker tries to reverse mounting losses. Chief Executive Barry McCarthy, who took over in February, said he is giving the unprofitable company about another six months to significantly turn itself around and, if that fails, Peloton likely isn’t viable as a stand-alone company. The job reductions, announced to staff on Thursday, will leave Peloton with roughly 3,800 employees globally, less than half the number of people the company employed at its peak last year.
