The Verge
What on Earth is going on with Peloton?
Photo by Amelia Holowaty Krales / The Verge
Things are a lot less rosy for Peloton these days. Once a pandemic darling, the connected fitness company has seen its stock price plunge in recent months. TV shows have turned its bike into a deadlypunchline, and there’s been no shortage of rumors speculating which company should buy Peloton to save it from impending doom.
Then today, Peloton kicked off its Q2 earnings call with a flurry of news: the company has a new CEO. It’s eliminating 2,800 jobs globally, scaling back marketing, and putting the kibosh on its North American manufacturing ambitions. Altogether, it’s a grim picture that raises questions about whether Peloton can find a way out of this mess.
As a fitness tech reviewer, Peloton’s business woes are bewildering because...