today is Sep 27, 2022

The company has faced an abrupt change in fortune over the past year, from complaints that it couldn’t deliver bikes on time, to a drop in demand as gyms reopened and pandemic restrictions were lifted.

Peloton’s share price dropped 24 percent on Thursday after a CNBC news report.
Peloton’s share price dropped 24 percent on Thursday after a CNBC news report.
Peloton’s share price dropped 24 percent on Thursday after a CNBC news report. Credit... Joe Raedle/Getty Images

Jan. 20, 2022

Peloton, the maker of stationary bikes and livestreamed workouts that enjoyed a surge in demand as gyms shut down during the pandemic, is considering laying off some workers and making changes to its production as the once-hot interest in its products slows.

“We now need to evaluate our organization structure and size of our team, with the utmost care and compassion,” John Foley, Peloton’s co-founder and chief executive, wrote in a post on the company’s website late Thursday. “And we are still in the process of considering all options as part of our efforts to make our business more flexible.”