Peloton, an exercise equipment maker and creator of online fitness classes, announced it is laying off 15% of its workforce, or 400 people, as CEO, Chairman and Board Director Barry McCarthy resigned after two years in this position.
McCarthy was previously CFO at Spotify and Netflix, and was forced to retire in early 2022 when Peloton co-founder and then-CEO John Foley resigned as part of a major cost-cutting effort which resulted in the layoff of 2,800 employees.
This is a developing story, check back for updates.
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