Peloton's Struggles in the Post-Pandemic Era
Peloton, the once-thriving fitness company, is facing challenges in the post-pandemic era with CEO Barry McCarthy stepping down after a significant drop in share price. The company has announced layoffs affecting 15% of its global workforce, marking the fifth round of layoffs since its peak in 2021.
Key Points
- CEO Barry McCarthy stepping down
- 5th round of layoffs affecting 400 employees
- Share price down 92% from 2020 high
- Company's journey traced back to pandemic surge in demand
Cons
- Significant drop in share price
- Multiple rounds of layoffs
- Challenges in realigning operations with market dynamics