PTON Jan 2025 32.000 call
- Bloomberg
Peloton CEO McCarthy Stepping Down; Firm Cutting 15% of Jobs
(Bloomberg) -- Peloton Interactive Inc. said Chief Executive Officer Barry McCarthy is stepping down after two years in the role as the company plans to shed about 15% of its global workforce in an effort to revive sputtering growth.Most Read from BloombergUS and Saudis Near Defense Pact Meant to Reshape Middle EastBiden Calls Ally Japan ‘Xenophobic’ Along With China, RussiaTesla Axes Supercharger Team in Blow to Broader EV MarketSaudi Arabia Steps Up Arrests Of Those Attacking Israel OnlineNYPD
- Barrons.com
Peloton CEO Is Stepping Down and It’s Cutting Jobs. The Stock Jumps.
Peloton Interactive stock was rising Thursday after the at-home fitness company announced its CEO was stepping down and that it would be cutting jobs under a new cost-saving initiative. Peloton Chief Executive Officer Barry McCarthy, who took the position in 2022, is stepping down, the company said in a news release. Peloton also announced new cost-cutting initiatives in order to “align the company’s cost structure with the current size of its business.”
- Reuters
UPDATE 2-Peloton CEO McCarthy steps down, fitness equipment maker to cut 15% jobs
Peloton CEO Barry McCarthy has stepped down, the company said on Thursday as it decided to cut 15% of its workforce to tackle a post-pandemic slump in demand for its connected fitness equipment. Shares of the beleaguered New York-based company rose 8% before the bell as it also plans to cut back its retail presence owing to weak demand that has forced Peloton to push back its goal of returning to positive cash flow. Peloton chairperson Karen Boone and director Chris Bruzzo will serve as interim co-CEOs.
