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Peloton CEO to Step Down as Company Cuts 15% of Jobs

The company has continued to struggle with growing “at scale” and issued a warning in February that revenue may not start increasing again until the fourth quarter.
Peloton new collaboration with Adidas. Peloton.
The company was a highflier during the early days of the pandemic, when lockdowns sent consumers scrambling for its stationary bikes and fitness classes. (Peloton)
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BoF PROFESSIONAL

Peloton Interactive Inc. shares fell to a record low after chief executive officer Barry McCarthy announced plans to step down and the struggling fitness company embarked on a major restructuring that will reduce its global workforce by 15 percent.

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