Uh Oh: Peloton slashing 780 jobs, closing stores and hiking prices

[Patrick Chewing]

https://www.cnbc.com/2022/08/12/peloton-shares-jump-as-company-announces-price-hikes-for-some-products.html


Guys, I wish I had better news. But as I was walking my dog just now, I found some distressing news on the heels of the news of Best Buy slashing jobs. Now it's Peloton.



Peloton told employees Friday that it is slashing roughly 780 jobs, closing a significant number of its retail stores and hiking prices on some equipment in a bid to cut costs and become profitable.

The company did not specify how many of its 86 retail locations it plans to shutter, but said an “aggressive” reduction will begin in 2023. The pace of closures will depend on how quickly Peloton can negotiate getting out of leases.


oh jeez :(

[RRR3]

Why the **** would you care you’ve never worked out in your life

[Off the Court]

Great news for the economy, this means gyms are now back :banana:

Biden just can't stop winning lately.

[Nanners]

I am shocked that they ran out of people who are willing to spend 2-3k on a fvcking exercise bike with an ipad :oldlol:

[oldtimer28]

I am shocked that they ran out of people who are willing to spend 2-3k on a fvcking exercise bike with an ipad :oldlol:

Ha.

[bladefd]

Peloton was always a ripoff. They only worked for a short period during the shutdowns. Since the shutdowns ended, their stock price has plummeted. They are a one trick pony. What am I supposed to take away from this?? That we are in one of the largest recessions in history?? Come up with something better and we will rethink the situation.