Peloton CEO Barry McCarthy said Thursday the company has six months to prove its plans are working as the company has slashed its workforce in half over the last year and cut a slew of deals with retailers.
on the layoffs, reporting McCarthy gave an ominous six month deadline for the company to prove the viability of its turnaround plans or else, but the company quickly worked to refute that claim, with Ben Boyd, Peloton’s head of communications, tellingPeloton surged to prominence in 2020 as consumers searched for exercise options due to stay-at-home orders
at the peak of the pandemic. Peloton’s stock is down more than 75% year-to-date, and trades far below even its 2019 initial public offering price of $29 per share. Investor reactions to the company’s retail partnerships were mixed, with Peloton shares jumping 17% the day of the Amazon partnership and falling 14% on the day of the Dick’s news. The company also
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