Sound Bite(s): A half-step forward, one step back
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Peloton CEO steps down, company to cut 15% of jobs
STORY: Peloton CEO Barry McCarthy, who took the helm two years ago to revive the flagging fitness firm, is stepping down. His departure, announced by the company Thursday, comes as demand for Peloton’s connected bikes and treadmills remains weak.Sales have waned since gyms reopened post-pandemic, followed by a cutback in consumer spending due to elevated inflation. McCarthy replaced founder John Foley in 2022, and with business chops honed at Netflix and Spotify, rebranded Peloton into a...
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Peloton cuts 15% of its global workforce, CEO steps down
Peloton CEO Barry McCarthy is stepping down, the company said on Thursday as it announced a 15 per cent cut to its global workforce due to a post-pandemic slump in demand.