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Peloton Interactive Inc (NASDAQ:PTON) reported disappointing fiscal third-quarter results before the open today.
Peloton announced that its CEO is leaving. It's also cutting 400 jobs and reorganizing.
Peloton CEO Barry McCarthy is stepping down from the beleaguered high-end fitness company after just over two years in the role, the company announced Thursday.
Peloton Interactive Inc (NASDAQ:PTON) boss Barry McCarthy will step down as chief executive amid a large-scale restructuring plan that also will see 15%, or around 400, team members lose their jobs. The Covid-era exercise bike fitness favourite hopes to save $200 million by the end of fiscal 2025 through the restructuring plan that will also see its showroom footprint reduced.
Peloton's chief executive officer is stepping down from the role as the fitness company plans to cut roughly 15% of its global workforce.
Peloton CEO Barry McCarthy is stepping down, the fitness company announced on Thursday. It also said that it was laying off 400 workers, or 15% of its total workforce.
Peloton, the exercise equipment maker and creator of online fitness classes, has announced that it's laying off 15 percent of its workforce — 400 people — as CEO, president, and board director Barry McCarthy steps down after two years in the role.
Peloton is cutting 15% of its global workforce, or 400 jobs.
Peloton announced Thursday that CEO Barry McCarthy will be stepping down just over two years after he took over from founder John Foley.
Barry McCarthy is stepping down as Peloton's PTON, +3.54% CEO, the connected-fitness company announced on Thursday morning. Karen Boone, the board chair, and Chris Bruzzo, a director, will serve as interim co-CEOs while the company looks for a permanent replacement.