20% workforce reduction plus the CEO being replaced and winding down their newly planned US plant, they must be really concerned about their fundamentals and market demand. Bringing in a CFO is interesting; I wonder if the focus really will be on a quick acquisition rather than reshaping the business
I want a peloton but every time I get close to buying one I get this fear about them going under or changing their business model and me just having a stationary dumb bike at the end of it all.
I sprinted competitively on my track bike for years on end, and one last accident has me wanting something less dangerous. With all respect to the others reading this, shove your comment up your ass.
> I'll hold back any comment on how I feel about cyclists in general. But I never said anything bad about regular stationary bikes. Though I would recommend dropping the tights and just going for a run.
Nice deleted comment. Don't forget, everyone's a stranger until you cross paths AFK.
I like how this comment implies that you are not fit and thus have no idea what they actually do for exercise. If that is the case, why would you assume they don't use Pelotons? It's nonsensical.
Too many lucrative subscribing users for the business to be closed and dissolved. They’ll right the ship before positioning themselves for acquisition.
Companies like this confuse me. They are cutting 2800 jobs, or 20%, which means they employ 14000. What do 14000 people do at a stationary bike company? (I know they also make possibly dangerous treadmills, etc).
I misread the headline at first, and thought the total employed was 2800, and they are cutting 20% of that, and I thought 2800 sounded on the high end but reasonable.
That’s mismanagement for you. Other exercise equipment makers employ a small fraction of Peloton, pre or post layoff. It’s a slick product (I own and use the bike), but fully agree that head count is absurd.
Taking VC money and then hiring an unnecessary, inefficient army of engineers with what looks like "growth". That attracts more VC money, until it catches up with the company.
The CEO just bought a $55M Hamptons crib. These are the people who lobby for "small government" and fewer taxes, because they prefer to shell out money as "charity" as crumbs off the table, claiming that the government is not efficient.
Then they take a pile of money and set it on fire.
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[ 105 ms ] story [ 410 ms ] threadNice deleted comment. Don't forget, everyone's a stranger until you cross paths AFK.
What’s a good high-level view?
I misread the headline at first, and thought the total employed was 2800, and they are cutting 20% of that, and I thought 2800 sounded on the high end but reasonable.
Then they take a pile of money and set it on fire.