Peloton, once hailed as the future of fitness, is now sucking wind. Here's why.
CBSN
Connected fitness company Peloton, known for its tech-enabled stationary bikes and treadmills, has cycled through yet another chief executive.
On Thursday, the beleaguered company announced Peloton CEO Barry McCarthy is stepping down from his roles as company CEO, president and board director. He will be succeeded by interim co-CEOs Karen Boone and Chris Bruzzo, both Peloton board members. Peloton also announced it is cutting 15% of its staff — or 400 employees — as it tries to trim costs.
The job cuts mark the fifth time Peloton has reduced its headcount since the company peaked in 2021. As the company struggles to regain its stronghold in the fitness industry and among consumers, questions are being raised about what the future has in store for the formerly red-hot fitness fad.
