By | Sheenu Pradhan | sightsinplus.com
Peloton, US exercise, and fitness equipment company, CEO Barry McCarthy has announced to lay off nearly 500 employees.
These Job cuts are 12 percent of the total workforce. Earlier, in August the company laid off roughly 780 employees. The previous layoffs were the result of several stores shut down and hiked prices on bikes and treadmills.
Post the layoffs the company’s strength will be nearly 3,800 employees globally. This will be less than half the number the company hired at its peak last year.
CEO Barry McCarthy is unable to understand why the people are not happy with the decision. He was apparently surprised to learn that media reports “accentuated the negative” from his lay-off announcement.
The Verge reported, citing an internal memo the CEO issued, that accused the Wall Street Journal of creating the wrong impression instead of praising the company.
“We were expecting a story about redemption and the successful turnaround of Peloton, which is why we invested time on a background briefing them on the state of our turnaround,” he wrote.