Peloton is replacing its CEO and cutting around 2,800 jobs
 

Peloton grew massively during the COVID-19 pandemic, but now that things are opening up, it has struggled to maintain growth. Now, the company is shaking things up by replacing its CEO, overhauling the board and laying off around 20 percent of its corporate workforce, according to The Wall Street Journal. At the same time, "Peloton's roster of instructors and breadth and depth of its content will not be impacted by the initiatives announced today," the company said in a press release.

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