Peloton Cutting About 400 Jobs Worldwide; Ceo Stepping Down

MICHELLE CHAPMAN / AP, Time: Business
Thu, 05/02/2024 - 7:46am

Peloton is cutting about 400 jobs worldwide as part of a restructuring effort and its CEO Barry McCarthy is stepping down after two years as the company continues to work on turning around its business. Shares edged down about 2% in morning trading, to $3.16. Peloton has been working on a significant rebranding since last year, shifting its identity as a seller of luxury exercise bikes and equipment to heath technology for all. [time-brightcove not-tgx=”true”] The New York company experienced incredible sales growth during the height of the coronavirus pandemic.

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Peloton Cutting About 400 Jobs Worldwide; Ceo Stepping Down

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