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Peloton CEO Barry McCarthy is stepping down, the company said on Thursday as it announced a 15 per cent cut to its global workforce due to a post-pandemic slump in demand.
Pelonton's CEO was upbeat even as the company failed to turn a profit last quarter. "We've put to bed questions about the viability of the business."
Peloton is slashing hundreds more jobs in a desperate measure to cut costs, The Wall Street Journal reported Thursday.
"It was only when we showed up each day and saw our assignments that we'd know, 'Okay, we're working today,'" the Peloton worker said.
Peloton CEO Barry McCarthy told staff Friday the company would eliminate 800 more jobs, close many of its retail showrooms, and raise its bike prices.