Peloton lays off hundreds more workers to ‘save’ the company, CEO says
In a memo shared with CNN Business, Peloton’s CEO told employees that “this is a necessary step if we are going to save Peloton, and we are.”
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Layoff Watch: Job cuts keep hitting Charlotte; more startups reduce in size
Layoffs are sweeping across North Carolina, with hundreds of employees receiving notice in the last week. Here’s the latest in the WRAL TechWire Layoff Watch.
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Layoffs made again at Peloton, which once had big plans for North Carolina
Peloton is laying off nearly 800 employees, McCarthy said in a staff memo that was first reported by Bloomberg. It’s part of an effort to “become more efficient, cost effective, and agile,” Peloton said in a statement to CNN Business. The company will also hike prices by $500
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Peloton, which had plans for big NC plant, will stop making bikes; 600 to lose jobs
Peloton will stop making its own bikes and treadmills, a drastic change for the struggling company aimed at cutting costs and ensuring its ability to remain afloat.
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Peloton ‘thinly capitalized,’ turns to Wall Street for money as cash burn grows
The once-hot company reported a dismal quarterly financial report Tuesday, with sales tumbling 15% from a year ago. Peloton lost $757 million last quarter. Here are the details.
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Peloton will test a new rental mode: a bike and streaming
Beginning Friday, some Peloton stores in Texas, Florida, Minnesota and Colorado will offer customers a rental package covering both a bike and access to its streaming service for one monthly fee. Prices will range between $60 and $100 a month and customers can cancel anytime and return the bike without charge.
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Peloton to slash workforce, replaces CEO – stock plunges
Peloton is replacing embattled CEO John Foley and cutting about 20% of its corporate workforce to help reinvigorate the flailing fitness company.
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Apple, Nike, Amazon reportedly set sights on ailing Peloton
The company’s exercise bikes were a huge hit early in the pandemic. Now, it’s struggling to maintain its growth as people spend more time outside their homes — and would-be buyers are circling.
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Investor tells Peloton to fire CEO, explore putting company up for sale
In an open letter Monday, the investment firm sharply criticized Peloton for not capitalizing the success it achieved in 2020, saying it squandered the opportunity to grow sales of its internet-connected bikes and treadmills. Peloton shares have tumbled 80% from their peak, bruised from sagging sales, a massive recall and PR nightmares in popular TV shows.
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