• Marketplace
  • Resources
  • Business Directory
  • Events
  • Advertise
  • Brand Pulse
  • Publish a Press Release
  • Get the Newsletter
  • Contact
  • About Us
The FUTURE OF WORK® since 2003
Allwork.Space
No Result
View All Result
Subscribe
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
  • More
    • Columnists
      • Dr. Gleb Tsipursky – The Office Whisperer
      • Nirit Cohen – WorkFutures
      • Angela Howard – Culture Expert
      • Drew Jones – Design & Innovation
      • Jonathan Price – CRE & Flex Expert
    • Get the Newsletter
    • Events
    • Advertise With Us
    • Publish a Press Release
    • Brand PulseNew
    • Partner Portal
  • Latest News
  • Business
  • Leadership
  • Work-life
  • Career Growth
  • Tech
  • Design
  • Workforce
  • Coworking
  • CRE
  • Podcast
No Result
View All Result
Subscribe
Allwork.Space
No Result
View All Result
Advertisements
Nexudus - Tech Stack Lovers
Home News Workforce

Peloton Will Lay Off 20% Of Its Workforce Following Plummeting Valuation

As demand for its products dwindles, exercise equipment company Peloton will lay off 2,800 of its employees and replace its CEO in an effort to mitigate its losses.

Aayat AlibyAayat Ali
February 8, 2022
in Workforce
Reading Time: 2 mins read
A A
Peloton Will Lay Off Its Workforce Following Plummeting Valuation

More stories for you

Why Do Women Still Undersell Their Own Work

Why Do Women Still Undersell Their Own Work?

9 hours ago
Can AI-Trained Humanoid Robots Solve China’s Labor Crisis — And Lead The Future Of Work

Can AI-Trained Humanoid Robots Solve China’s Labor Crisis — And Lead The Future Of Work?

10 hours ago
Ford Workers In Germany Strike To Protest Job Cuts

Ford Workers In Germany Strike To Protest Job Cuts

17 hours ago
South Africans Giving Up Looking For Work As Jobless Rate Rises Even Higher

South Africans Giving Up Looking For Work As Jobless Rate Rises Even Higher

17 hours ago

Exercise equipment company Peloton, a crown jewel during the midst of the pandemic, will lay off 2,800 employees and replace its CEO.  

By making a 20% reduction in its workforce, Peloton hopes to boost its profitability after demand for the company’s products and services plummeted in recent months. It also walked back on a $400 million factory it was building in Ohio, allowing it to cut down on delivery and warehousing costs by up to $1 billion. 

Advertisements
Disaster Avoidance Experts

This vulnerability has led the likes of Amazon, Apple, and Nike to set their sights on acquiring the firm. 

The company’s valuation fell from a high of $50 billion to just $8 billion last week, just prior to rumors of an acquisition coming to the surface. 

Advertisements
Maximize Flexible Space Revenue

John Foley, cofounder and CEO, will be replaced by Barry McCarthy, who is the former CFO of Spotify and Netflix. As a result, Foley will become executive chair.  

“I have always thought there has to be a better CEO for Peloton than me,” said Foley. “Barry is more perfectly suited than anybody I could’ve imagined.” 

Foley, who controls 80% of the firm’s voting power, added that the company’s exploration of a sale aims to “create value for Peloton shareholders.” 

Source: The Verge
Tags: Workforce
Share5Tweet3Share1
Aayat Ali

Aayat Ali

Aayat is an editor for the Daily Digest based in Lexington, Kentucky. She has worked with local coworking spaces since August of 2017 and enjoys taking her firsthand knowledge to write about the fascinating, constantly evolving world of flexible workspaces.

Other Stories Recommended For You

Why Do Women Still Undersell Their Own Work
Workforce

Why Do Women Still Undersell Their Own Work?

bySheya Michaelides
9 hours ago

Freelancers have the freedom to set their own rates; however, women typically charge much less than men.

Read more
Can AI-Trained Humanoid Robots Solve China’s Labor Crisis — And Lead The Future Of Work

Can AI-Trained Humanoid Robots Solve China’s Labor Crisis — And Lead The Future Of Work?

10 hours ago
Ford Workers In Germany Strike To Protest Job Cuts

Ford Workers In Germany Strike To Protest Job Cuts

17 hours ago
South Africans Giving Up Looking For Work As Jobless Rate Rises Even Higher

South Africans Giving Up Looking For Work As Jobless Rate Rises Even Higher

17 hours ago
Advertisements
Envoy - Workplace ROI
Advertisements
Disaster Avoidance Experts

Unlock your competitive edge in tomorrow's workplace.

Join a community of forward-thinking professionals who get exclusive access to the latest news, trends, and innovations that are shaping the future of work.

©2024 Allwork.Space News Corporation. All Rights Reserved.

Exploring the Future Of Work® since 2003.

Advertise   Newsletters   Privacy Policy   Terms Of Use   About Us   Contact   Submit a Press Release   Brand Pulse   Podcast   Events   

No Result
View All Result
  • Home
  • Latest News
  • Topics
    • Business
    • Leadership
    • Work-life
    • Workforce
    • Career Growth
    • Design
    • Tech
    • Coworking
    • Marketing
    • CRE
  • Podcast
  • Events
  • About Us
  • Solutions
    • Advertise | Media Kit
    • Publish a Press Release
    • Brand Pulse
Subscribe

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00