Peloton is cutting about 800 jobs in a bid to restructure the business
Peloton has been on a wild ride, announcing its CEO was stepping down and thousands of jobs would be cut, despite seeing a surge in sales early in the pandemic. Here’s why Peloton became a viral success, and why it’s spinning out now. Photo illustration: Jacob ReynoldsPeloton Interactive Inc. plans to cut about 800 jobs as it looks to reduce its operating footprint and cut costs, the company said Friday.
The New York-based company said it would eliminate its North American field operations warehouses and make cuts within its member-support team, among other changes, resulting in the loss of 784 jobs. It also plans to scale back the retail operations it had been building out and raise the prices on some of its products in the U.S.
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