About 500 positions will be lost as part of Peloton’s latest round of layoffs, the fourth this year, as the struggling fitness firm attempts to reduce expenses and boost its bottom line.
The company stated last week in a release that “key aspect of Pelotons transformation journey is optimizing efficiencies and implementing cost savings to simplify our business and achieve break-even cash flow by the end of our fiscal year.”
The company now has over 4,000 employees, which is fewer than half the number it reached at its height in 2021 after 12% of its workforce were laid off.
