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Peloton announces new round of layoffs as CEO quits
Peloton’s CEO Barry McCarthy is stepping down after announcing yet another round of layoffs, this time affecting about 15 percent of its remaining workforce, or roughly 400 global team members. It’s the fifth round of layoffs to hit the pandemic darling and comes a year after McCarthy said on its Q1 2023 earnings call that the company was done with layoffs and that the “ship was turning.” “Hard as the decision has been to make additional headcount cuts, Peloton simply had no other way to bring...