Seana Smith checks out several stocks and sectors trending in the after-hours trading session, including the semiconductor industry following President Biden's export restrictions on China. Read More...
Reuters
Peloton to cut about 12% of workforce in a move to ‘save’ company
With the latest move to cut 500 global jobs, a bulk of the restructuring work is complete, Chief Executive Barry McCarthy said in the memo seen by Reuters. Peloton had about another six months to significantly turn itself around, McCarthy told the Wall Street Journal earlier in the day, and, if that fails, it likely isn’t viable as a stand-alone company. However, McCarthy walked back on that comment late on Thursday, saying, “There is no timeclock nipping at our heels.”
