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Financial Analyst 6 months ago

Peloton cut another 800 people

They are laying off nearly 800 people across its customer service and distribution departments. Bloomberg reports that this is Peloton’s third round of layoffs in 2022 alone; the company is also closing retail stores and raising prices on its popular exercise bikes. Declining sales, plunging stock and raising prices doesn't sound like a great move tbh but what else can they do?


ICYMI: Peloton fired ~3,000 employees in February and cut more than 500 overseas roles last month. It's not looking good for them.

Peloton slashing 780 jobs, closing stores and hiking prices in push to turn profit

Peloton slashing 780 jobs, closing stores and hiking prices in push to turn profit

Peloton is slashing about 780 jobs, closing a significant number of its retail stores and hiking the prices of some of its equipment in a bid to be profitable.

cnbc.com
1
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Mxoh9164isIhEBusiness Analyst 6 months ago
Rough. I wonder if they are going to try and update their business model to accommodate a larger demographic of users. The app is great though

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