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.