News Formal

Peloton CEO steps down as company slashes 15% of global workforce

  • 📰 10News
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 50%

Business News News

Business Business Latest News,Business Business Headlines

Rooted in fact-based, transparent reporting, Newsy is an award-winning opinion-free network owned by the E.W. Scripps Company that is relentlessly focused on “the why” of every story and seeks to enable a more intimate and immersive understanding of the issues that matter.

Peloton has announced a major shakeup in its leadership and operations as it looks to cut costs and turn the business around.

McCarthy will be succeeded by Peloton chairperson Karen Boone and director Chris Bruzzo, who will serve as interim co-CEOs as the company searches for a permanent top executive. Board member Jay Hoag will take over as the company's new chairperson. Following the announcements, shares in the company spiked by more than 11% ahead of market open Thursday morning.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 732. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Peloton CEO Barry McCarthy steps down, company cuts 15% of staffThe connected fitness company will also cut 15% of its workforce.
Source: axios - 🏆 302. / 63 Read more »

Peloton CEO Barry McCarthy to step down, company to lay off 15% of staffPeloton announced Thursday that CEO Barry McCarthy will be stepping down just over two years after he took over from founder John Foley.
Source: CNBC - 🏆 12. / 72 Read more »

Peloton CEO to step down, company will cut 15% of global workforcePeloton 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.
Source: FoxBusiness - 🏆 458. / 53 Read more »