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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source: https:\/\/www.theverge.com\/2022\/2\/8\/22923434\/peloton-foley-ceo-layoffs-earnings-connected-fitness<\/a> 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 deadly<\/a> punchline<\/a>, and there\u2019s been no shortage of rumors speculating which company should buy Peloton<\/a> to save it from impending doom.<\/p>\n Then today, Peloton kicked off its Q2 earnings call with a flurry of news<\/a>: the company has a new CEO. It\u2019s eliminating 2,800 jobs globally, scaling back marketing, and putting the kibosh on its North American manufacturing ambitions. Altogether, it\u2019s a grim picture that raises questions about whether Peloton can find a way out of this mess.<\/p>\n As a fitness tech reviewer, Peloton\u2019s business woes are bewildering because the company has an excellent product. Its hardware, while pricey, is aesthetically pleasing and generally well constructed. The classes are engaging, and the instructors have their own devoted followings (especially Cody Rigsby<\/a>). Peloton users are often referred to as a cult, to the point where the Tread Plus recall wasn\u2019t enough to persuade some owners<\/a> to return the product. While Peloton\u2019s financial news has been doom and gloom as of late, CFO Jill Woodworth was quick to point out that engagement remains high with an impressively low monthly churn rate of 0.79 percent for Q2. <\/p>\n
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