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Peloton drops plans for Toledo-area factory; CEO resigns as company implements cost-cutting plan

From Bloomberg and Crain's staff: The exercise bike maker said it's 'winding down the development of its Peloton Output Park (POP) manufacturing plan,' a 1 million-square-foot plant intended for Wood County. Peloton said ending the Toledo project 'will result in $60 million in restructuring capital expenses.' The company also is eliminating 2,800 jobs, and CEO John Foley will step down and become executive chairman.
United States Wood County Jill Woodworth Jonathan Komp John Foley Jason Aintabi

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