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Slumping Peloton replaces CEO, cuts 2,800 jobs

Slumping home-exercise company Peloton Interactive Inc on Tuesday announced a leadership shift and layoff plan as it scales back expansion plans due to weakening demand in the shifting COVID-19 pandemic. Founder John Foley is to step down as chief executive, but remain as executive chairman. Under a cost-cutting plan, the company is to eliminate 2,800 jobs in an acknowledgement that it expanded too quickly. โ€œThis has been a humbling time for Peloton, but we remain confident in the fundamentals...
United States Walnut Creek Jonathan Mildenhall Jill Woodworth John Foley Jason Aintabi

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