According to The Wall Street Journal, Peloton Interactive plans to cut another 500 jobs as part of its turnaround efforts; this is the company’s fourth round of layoffs in 2022.
The 500 job cuts, announced to Peloton’s staff on Thursday, represent about 12 percent of its workforce and leave the company with roughly 3,800 employees globally, less than half its workforce at its peak in 2021.
Barry McCarthy, who took over as CEO in February 2022, is giving the unprofitable company six months to turn itself around, and, if that fails, Peloton likely is not viable as a standalone company, the WSJ report said.
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