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Article Date: August 2022
Word Count: 276

Peloton Plans More Cuts, Price Hikes


In its third-round of layoffs, the troubled connected fitness company is letting go 784 employees across its distribution and customer service teams as well as raising prices as part of its turnaround plan, Bloomberg first reported. In a memo released to employees, CEO Barry McCarthy said the company will raise prices for its Bike+ by $500 and its Tread treadmill by $800 to $3,495. It will also outsource equipment deliveries and customer service, gutting about half of its customer support team. However, the company will continue hiring for its software and ... Log in to view full article.

 


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