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Peloton to cut nearly 800 jobs, raise prices amid declining sales

August 12, 2022

Peloton will embark on a sweeping overhaul that includes cutting nearly 800 jobs, raising prices for its Bike Plus and Tread machines, and outsourcing functions such as equipment deliveries and customer service to outside companies.

The changes, which the company disclosed Friday in a memo to employees, also includes gradually closing many of its retail showrooms — a process that will get underway next year. TWP