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Peloton’s pandemic-era fairy tale is officially over
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Peloton’s pandemic-era fairy tale is officially over
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3rd May 2024, 04:13
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| [M] Reviewer  Join Date: May 2010 Location: Romania
Posts: 152,472
 |  Peloton’s pandemic-era fairy tale is officially over The same goes for Peloton and its line of exercise equipment. People were buying bikes and treadmills in droves, ballooning the company’s market cap from $6 billion to $50 billion. However, what goes up must come down, and Peloton’s market cap shrank to $10 billion by 2022 and now it rests at around $1 billion. The company’s pandemic-era success story has officially ended, and now it's focused on cutting costs. So that means layoffs. Peloton is laying off 15 percent of its workforce, according to TechCrunch, which amounts to 400 people. https://www.engadget.com/pelotons-pa...0.html?src=rss |
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