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Peloton closing stores, cutting jobs and raising prices

CNN 08/15/2022

Peloton is laying off nearly 800 employees in an effort to make the home exercise company “more efficient, cost effective, and agile.” The company also is raising prices on its stationary bikes and treadmills. “We have to make our revenues stop shrinking and start growing again,” wrote CEO Barry McCarthy in a memo to employees. “Cash is oxygen. Oxygen is life.”

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