Peloton announces 15% global staff layoffs, retail showroom closures, and CEO departure.
Peloton has had a rough week, announcing layoffs of 15% of its global staff and the closure of retail showrooms. The company also experienced a change in leadership, with Barry McCarthy stepping down as CEO, president, and board director. As Peloton searches for a new CEO, interim co-CEOs Karen Boone and Chris Bruzzo will take over. Investing $1,000 in Peloton at its IPO would result in a significant loss, given the company's current financial situation and recent changes.
May 03, 2024
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