By The Drum

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Peloton loses CEO as sales tumble

Home fitness brand Peloton has lost its CEO Barry McCarthy and is slashing 15% of its workforce to tackle a post-pandemic slump in demand for its connected fitness equipment.

Sales at Peloton had boomed during the pandemic as gyms closed and people tried to stay fit from home. However, despite aggressive marketing and advertising sales collapsed as the world reopened and McCarthy attempted to revamp Peloton as a subscription business.

Peloton has not made a net Read full story ›

Source: The Drum