The company is also laying off 20% of its workforce.
Peloton will replace its CEO, cut about 2,800 jobs, and revamp its leadership team as the company faces
. The layoffs account for around 20% of the corporate workforce but will not affect instructors or content., Peloton co-founder John Foley, who has led the company since its inception 10 years ago, announced that he would be stepping down as CEO and becoming executive chair. Barry McCarthy, the former chief financial officer of Spotify and Netflix, will take over as chief executive and president.. “Barry is more perfectly suited than anybody I could’ve imagined.
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