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Friday's edition of Forbes Daily features an exclusive interview with Chime CEO Chris Britt, Apple narrowly beating earnings expectations and a look at the U.S. economy.
It was the lockdown humblebrag of the hip and wealthy, popularised by trendy users like Rishi Sunak but with the news that Peloton is cutting 400 jobs, has the gimmick officially run out of road?
Peloton customers are cancelling $40-a-month subscriptoins and sales of its fitness gear to new ones has stalled. Some 400 jobs will go - it is unclear if its famous instructors are affected.
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.
Peloton is struggling, as it is laying off 15 percent of its workforce. The CEO is also stepping down.