Peloton Giving 2,800 Fired Employees a Free 1-Year Subscription
Along with the layoffs, Peloton also announced CEO John Foley is stepping down, and the company is scrapping plans for a North American factory.
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Along with the layoffs, Peloton also announced CEO John Foley is stepping down, and the company is scrapping plans for a North American factory.
Peloton slashed full-year revenue guidance to $3.7 billion to $3.8 billion, down from a prior outlook of $4.4 billion to $4.8 billion.
"We've made missteps along the way," Foley said in his final investor call as Peloton CEO on Tuesday morning. "We own this. I own this."
Customers at a McDonald’s in China eating their meals while riding exercise bikes. Wow.
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