Get the latest tech news
Peloton announces new round of layoffs as CEO quits
It’s the fifth time the company has announced workforce reductions since it peaked in 2021.
Peloton’s CEO Barry McCarthy is stepping down after announcing yet another round of layoffs, this time affecting about 15 percent of its remaining workforce, or roughly 400 global team members. “Hard as the decision has been to make additional headcount cuts, Peloton simply had no other way to bring its spending in line with its revenue,” said McCarthy in his outgoing message, noting that it’s a crucial step as the company seeks to refinance its debt. Peloton thrived during quarantine and had invested hundreds of millions in its supply chain to address pandemic-related shipping delays.
Or read this on The Verge
