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Peloton has 6 months to show it can survive, 500 job cuts coming


A man walks in front of a Peloton store in Manhattan on May 05, 2021 in New York.

John Smith | Corbis News | Getty Images

Peloton has six months to show it can survive as a standalone company, CEO Barry McCarthy said, according to a report from The Wall Street Journal.

Peloton also plans to cut 500 jobs, or about 12% of its workforce, the Journal said, adding that employees were told of the reductions Thursday. The company has already had multiple layoff rounds this year.

Shares of the fitness-product company fell more than 4% in premarket trading following the report.

A Peloton spokesman didn’t immediately respond for a request for comment.

“If we don’t grow,” McCarthy, who took over as CEO earlier this year from co-founder John Foley, told the Journal. “We need to grow to get the business to a sustainable level.”

This is a developing story. Check back for updates.


Etiknews Staff
Etiknews Staff
Etiknews is dedicated to Ethical and sustainable business news.


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