Peloton: More rounds of layoffs to come

Peloton, a maker of smart fitness equipment, is probably not doing well right now. After a decent and promising recovery during the pandemic, several layoffs have now followed. In the meantime, there has been a takeover by Apple or Amazon. According to a Wall Street Journal report, the fourth round of layoffs this year is now on hold – losses continue to mount. Quarterly losses were reported for the sixth consecutive time. 3,800 of the company’s employees will lose or have already lost their jobs at Peloton this year, nearly 600 more than previously announced. It is a “necessary step to save Peloton”. But according to a new statement, there is no “off in 6 months” as some media wrote in reference to the Wall Street Journal:

Peloton’s CEO, in response to the idea that the company has six months to live or be sold, says there is no “countdown” to its performance. New note to employees here. https://t.co/zVT5HK8qjA pic.twitter.com/NhavghHgX1

—Mark Gurman (@markgurman) October 6, 2022

Hard to tell if you get the curve. I consider it much more likely that one of the takeover bids that have already raged will occur. The main issue I see with Peloton is their subscription model, just in terms of the devices you have in your wallet, I definitely like them.

Related: Platoon: More rounds of layoffs pending

To the blog: Caschy’s blog

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