Exercise equipment company Peloton wants to make a fresh start with its new CEO. Sam Bowen, Peloton’s vice president of hardware engineering, and Rob Barker, chief commercial operations officer, are leaving the company, according to the latest information. In addition, many employees are added to the list of those who left.
Those who leave are given a 1-year Peloton membership
Peloton has announced that Barry McCarthy, former CFO of Spotify and Netflix, will replace John Foley, who serves as CEO. The company also announced that they have carried out a general restructuring and that many employees will be laid off in this context.
Apart from names such as Sam Bowen and Rob Barker among those leaving the company, 2800 people are also being laid off, which represents about 20% of the total employees. Peloton stated that dismissed employees will be provided with severance pay according to their tenure, as well as free subscription service for 12 months.
Peloton said that they expanded their product range and increased the number of employees to respond to the increasing demand with Covid-19, but now they have extra labor in their hands as the demand has returned to pre-pandemic levels. Therefore, the company stated that all these changes were made to take more cautious steps for the future.
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