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Article Date: May 2024
Word Count: 437

Peloton Reports another Loss, Restructuring as CEO Departs


Heading into the seasonally slowest and most challenging quarter of its fiscal year, Peloton Interactive’s two-year transformation is continuing down a bumpy path. The connected fitness company has initiated another restructuring effort that will result in annualized savings of more than $200 million and more job cuts – its third round in 26 months. Additionally, the group’s CEO Barry McCarthy, the former Netflix executive who took over for company founder John Foley in Feb. 2022, is departing.

 

These actions, including the company’s need to refinance its debt load, were revealed simultaneously with ... Log in to view full article.

 


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