Peloton's move comes as the fitness giant has announced an $800 million restructuring plan to turn its business around and create positive cash flow.
"These changes are essential if Peloton is ever going to become cash flow positive. Cash is oxygen. Oxygen is life. We simply must become self-sustaining on a cash flow basis.""These changes are essential if Peloton is ever going to become cash flow positive," McCarthy said. "Cash is oxygen. Oxygen is life. We simply must become self-sustaining on a cash flow basis.
"For those of you who don’t want to return to the office, we respect your choice," McCarthy added. "We hope you choose to stay, but we understand not everyone will." As of the time of publication, Peloton shares have surged more than 9% during Friday's trading session. However, they are still down more than 60% year to date.
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