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Peloton cuts about 20 percent of its workforce, names new CEO

The Verge 02/08/2022

Peloton announced it is cutting about 2,800 jobs, about 20 percent of its workforce, in a move to reduce costs in the face of slowing sales. It also announced that John Foley, company co-founder, has stepped down as CEO and is being replaced by Barry McCarthy, former CFO of Spotify and Netflix. Mr. Foley will also serve as executive chair of Peloton’s board.

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