peloton
New York (AFP) - Slumping home-exercise company Peloton announced Tuesday a leadership shift and layoff plan as it scales back expansion plans due to weakening demand in the shifting pandemic. Founder John Foley will step down as chief executive but remain as executive chairman. Under a cost-cutting plan, the company will eliminate 2,800 jobs in an acknowledgement that it expanded too quickly. "This has been a humbling time for Peloton, but we remain confident in the fundamentals of our business, the strength of our platform, and the significant growth potential for Connected Fitness and our l...
AFP
New York (AFP) - Home-exercise company Peloton announced Tuesday it would eliminate 2,800 jobs in a cost-cutting drive as founder John Foley stepped down as CEO, though he will stay on as chairman. The company, which has seen growth slow with the end of widespread Covid-19 lockdowns, said it will trim its planned 2022 capital expenditures by about $150 million. Annual costs are expected to fall "at least" $800 million as the company cuts corporate positions by 20 percent, Peloton said. Foley will be replaced by Barry McCarthy, former chief financial officer at Spotify and Netflix. Shares of t...
AFP
New York (AFP) - Fitness firm Peloton has gone on the counterattack after a plot twist in "Sex and the City" helped send its shares into a skid -- bringing a key character on the show back to life in a parody ad, as it seeks to revive its own fortunes on Wall Street. In the first episode of the latest reboot of the popular series called "And Just Like That...," the character John Preston -- known as "Mr. Big" -- dies of a heart attack shortly after a workout on a Peloton exercise bike. Shares of Peloton suffered following the surprisingly dark turn in the comic series, falling 5.4 percent in F...
AFP
New York (AFP) - Exercise equipment maker Peloton on Wednesday announced it had agreed with US safety regulators to recall some of its treadmills after multiple accidents, including one that killed a child, and apologized for not acting sooner. The recall of the Tread+ comes after more than 70 incidents of adults, children and pets being pulled under the belt of the unit, causing 29 injuries to children and the death of a six year old. The US Consumer Product Safety Commission (CSPC) issued an initial warning last month, urging consumers to stop using the treadmills. But Peloton, the brand tha...
AFP
New York (AFP) - A US federal agency has urged people with children and pets at home to stop using a treadmill made by Peloton, citing injuries and one death linked to the machines. In an urgent warning, the US Consumer Product Safety Commission (CPSC) said Saturday that the Tread+ treadmill poses serious risks to children, including abrasions, fractures and even death. The regulator said it was aware of 39 incidents involving the treadmill, including "multiple reports of children becoming entrapped, pinned, and pulled" beneath the roller. One pet was also reportedly sucked under the machine. ...
AFP
Washington (AFP) - Joe Biden may have to find another way to stay fit at the White House, as experts worry the president's Peloton interactive fitness bike could create security risks. Some of Peloton's top features -- internet connectivity, a camera and microphone that allow users to participate in live classes -- could prove problematic for White House security, experts explained to US media. According to The New York Times, Biden began his days at the family home in Delaware with an exercise routine that included weights, a treadmill and a Peloton exercise bike. The brand has become hugely ...
AFP
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