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Peloton CEO Barry McCarthy to step down, company to lay off 15% of staff

  • Peloton CEO Barry McCarthy is leaving, and the company is cutting 400 jobs, aiming to save $200 million. Shares rose 11% before the market opened.
  • Barry McCarthy will be a strategic advisor, while Karen Boone and Chris Bruzzo will serve as interim co-CEOs. A permanent CEO is being sought.
  • Peloton's restructuring plan includes reducing global headcount by 15% to improve cash flow and invest in innovation, support, and marketing.
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