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Peloton CEO steps down as company cuts 15% of staff
Peloton said on Thursday that its CEO, Barry McCarthy, was stepping down and it would lay off more workers, as it continued to struggle in the fitness market.
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Newshour, US accuses Russia of using chemical weapons
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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...