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Business, Stocks

“Peloton CEO Barry McCarthy to step down, company to lay off 15% of staff as it looks to refinance debt”

Peloton announced Thursday that CEO Barry McCarthy will be stepping down and the company will lay off 15% of its staff because it “simply had no other way to bring its spending in line with its revenue.”…

Peloton’s shares surged more than 12% in premarket trading but opened lower after the company’s conference call with Wall Street analysts concluded. Shares closed about 3% lower…”

https://www.cnbc.com/2024/05/02/peloton-ceo-barry-mccarthy-steps-down-15percent-of-staff-laid-off.html

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