Peleton to cut 2,800 jobs 😳

NorthCascades
NorthCascades Posts: 10,968 Member
in Fitness and Exercise
FYI.

https://www.theguardian.com/business/2022/feb/08/peloton-chief-excecutive-jobs-cuts-sales-slump

When you buy exercise equipment it's important to know if it can be used without a subscription and what would happen if the company that made it went out of business.

Replies

  • MikePfirrman
    MikePfirrman Posts: 3,307 Member
    edited February 2022
    They won't go out of business. The CEO was pushed aside, though he's still the Chairman of the Board. Stock went up 25% after that. Talk of Amazon buying them.

    I thought their CEO made some idiotic moves, first and foremost not owning (being more proactive, less reactive and defensive) the treadmill death of a child and recall. Thus, him being pushed aside. But make no mistake, they still have, by far, the best interactive technology and set up.

    Zwift would be my 2nd company but they seem to be stuck in catering only to bikers even though they have a treadmill product now.

    In that interactive space, I just don't see a rival yet and that's where there's so much value in Peloton. But going from $20 a share to $175 a share at the highpoint and crashing back to $20 isn't a good look, that's for sure.

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