Peloton lays off 11 percent of its staff just a few months after launching its AI hardware
TL;DR
Peloton is laying off 11% of its staff, primarily engineers, as part of cost-cutting efforts following previous layoffs and a shift in strategy, including new AI hardware launches.
Peloton said on Friday that it's cutting around 11 percent of its staff, mostly impacting "engineers working on technology and enterprise-related efforts," reports Bloomberg.
Last August, Peloton laid off six percent of its workforce and told investors it would continue layoffs globally in 2026, in an attempt to cut at least $100 million of annual spending by the end of the fiscal year.
Peloton's latest strategy shift to reverse the effect of its pandemic-era boom stalling out has also brought new hardware with Peloton IQ AI features. The Cross Training Series that debuted last October includes a new Bike, Bike Plus, Tread, Tread Plus, …