By Kendra Clark

Will the once-invincible luxury fitness brand get back in the race?

Peloton announced today that it will lay off nearly 500 employees – about 12% of its workforce – in an effort to stay afloat. The news comes less than two months after the troubled company upped the prices on a range of its products, announced store closures and slashed jobs.

In fact, it’s the fourth round of layoffs the company has undergone this year. When ex-Spotify and Netflix exec Barry McCarthy took the helm following the departure of cofounder John Foley in February, the company kicked off a major restructuring Read full story ›

Source: The Drum