Friday, 24 March, 2023

Peloton fires 2800 employees amid deprecating demand

<p>CEO John Foley, who also is losing his position but still works as executive chairman, said that Peloton will be firing 2800 people. As part of their severance package, the outgoing employees will receive one year of membership. The main reason for this mass layoff is that the company experienced immense demand during the pandemic but now as people move forward towards normal day-to-day life, the demand for Peloton services is deprecating.</p>