Peloton to cut 500 jobs as turnaround efforts continue

Peloton is cutting hundreds of jobs in a corporate reorganization of its stalled business as the pandemic-related surge ebbs.

The maker of high-end exercise equipment cut approximately 500 jobs, or about 12% of its workforce, Peloton said Thursday

Peloton Interactive Inc. said it’s completed the vast majority of a restructuring plan begun in February. That plan included a new chief executive and a smaller store base. “The changes we have made, comb ...

The fitness technology company is cutting its workforce by roughly 500 globally, or 12%, leaving it with about 3,825 employees

McCarthy said the company is making the move, along with other reductions in operating expenses, in order to reach the break-even point on cash flow by the end of fiscal 2023.

Peloton told staff that the latest round of layoffs marks the “bulk of our restructuring work” being complete

The company laid off about 2,800 employees in February

Peloton eliminated roughly 570 jobs in July as part of a move to outsource hardware manufacturing, and then an additional 800 people in August to further lower expenses.