Peloton freezes hiring after it slashes its forecast and shares drop 35%

November 5, 2021

Peloton halted hiring across all departments effective immediately during an all-hands meeting on Friday, CNBC has learned. The news comes a day after after Peloton slashed its full-year outlook amid slowing momentum for its fitness products.

Peloton dropped 35% on Friday, wiping off more than $9 billion off its market value. Shares have fallen about 63% year to date. CNBC