Peloton Interactive Aktie News

Quarterly revenue at Peloton Interactive Inc. (NASDAQ: PTON) was so poor that the stock plunged and CEO Barry McCarthy was fired.

Barry McCarthy was tapped to lead Peloton in order to right the ship. The past two years have been filled with various cost-cutting measures and efforts to broaden is customer base.

“Peloton needs someone who knows the industry,” Lou Lentine told The Post. “I'm running the same company but smaller and we are doing the same things every day but better with fewer employees and less debt.

Peloton said its CEO was stepping down and it will cut 15% of its workforce. The company continues to struggle to grow revenue.

Peloton made headlines on Thursday (May 2) as it announced the launch of restructuring efforts, including laying off approximately 400 employees — about 15% of its global workforce — and reducing its retail showroom footprint to mitigate costs.

After surging in popularity during the early days of the pandemic, Peloton Interactive continues to struggle in a non-quarantined world.

NEW YORK, NY / ACCESSWIRE / May 2, 2024 / Levi & Korsinsky informs shareholders that a settlement has been reached in the pending class action lawsuit against Peloton Interactive, Inc. (NASDAQ:PTON). The settlement provides for a fund of $13,950,000 to benefit class members.

Peloton was a Wall Street darling during the pandemic, with a market cap of around $50 billion. Now, its CEO is out after two years, it announced more layoffs, and its stock hit a record low.