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Peloton Interactive Inc., the long-struggling fitness technology company, slashed 11% of its workforce in a cost-cutting move, according to a person with knowledge of the matter.
https://www.bloomberg.com/news/articles/2026-01-30/peloton-cuts-11-of-staff-including-from-engineering-teams
https://www.aol.com/peloton-beats-expectations-announces-further-212747746.html
Peloton shares rose after the company reported surprise quarterly earnings, driven by higher sales and cost-cutting measures, while announcing it will lay off 6% of its workforce as part of a new restructuring plan. The New York-based fitness company aims to save at least $100 million by fiscal year 2026 through reducing its global team, cutting indirect spending, and relocating certain operations, with about half the savings expected from the layoffs.
This latest reduction follows larger cuts in recent years, including a 15% workforce reduction in 2024 (about 400 positions) and about 1,300 job losses in 2022. While Peloton’s stationary bikes and treadmills saw huge demand during COVID-19 lockdowns, sales have steadily declined since 2021 as gyms reopened and customers returned to pre-pandemic routines. The company now anticipates falling hardware sales and fewer subscriptions to its fitness software products