Published 2 years ago

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

Summary by Ground News

Peloton Interactive Inc. is cutting nearly 800 jobs and raising prices for its bikes and treadmills. The company is also outsourcing functions such as equipment deliveries and customer service to outside companies. The changes, which the company disclosed Friday in a memo to employees, also includes gradually closing many of its retail showrooms.

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CNN

Peloton is cutting jobs, closing stores and hiking prices

Peloton is slashing jobs again, and this time it's also hiking prices on some of its products.

2 years ago·Atlanta, United States

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KRDO

Peloton is cutting jobs, closing stores and hiking prices

By Jordan Valinsky, CNN BusinessPeloton is slashing jobs again, and this time it’s also hiking prices on some of its products.It’s part of a major cost-cutting strategy as the beleaguered fitness company continues to make changes under its new CEO Barry McCarthy.Peloton is laying off nearly 800 employees, McCarthy said in a staff memo that was first reported by Bloomberg. It’s part of an effort to “become more efficient, cost effective, and agil…

2 years ago·Colorado Springs, United States

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New York Post

Peloton slashing 800 jobs, raising bike prices

Shares of the company rose as much as 7.5%.

2 years ago·New York, United States

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CNBC

Peloton to slash 780 jobs and hike prices in push to turn profit

“Cash is oxygen. Oxygen is life,” CEO Barry McCarthy wrote in a memo to employees.

2 years ago·United States

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KVIA

Peloton is cutting jobs, closing stores and hiking prices

2 years ago·Panama City, United States

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The Business Journals

Peloton will cut nearly 800 jobs, including staff in Plano

Along with the job cuts, the company will raise prices on certain products and outsource functions such as equipment deliveries and customer service to outside companies. It will also gradually close many of its retail showrooms starting next year.

2 years ago·United States

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