Fitness tech firm Peloton has announced it is cutting 500 jobs – 12% of its employees – in its latest round of layoffs.
It’s a buzzy area for the music industry: the intersection of music and fitness.
Apple held its latest product launch event last night, with new iPhones, Apple Watches and AirPods Pro earphones.
The company has begun selling its exercise bike and strength-focused Guide device on Amazon in the US.
Both are enduring some challenging times in 2022, as represented by their latest plans to cut their workforces.
2022 has been a bit of a bumpy year for Peloton as a business, but the fitness-tech firm’s commitment to music is undimmed.
Peloton has had a rocky year or so: shares in the Fitness startup are down by 95% from their all-time high, and it’s made dramatic changes: outsourcing manufacturing, and focusing on expanding its product range and the classes that made its name.
The monthly ‘Supernatural Artist Series’ is kicking off with Katy Perry, with Imagine Dragons, The Weeknd, Coldplay and more to follow.
Barry McCarthy had a reputation for straight talking when chief financial officer at Spotify, and now he’s Peloton CEO, he’s carrying on in the same vein.
Peloton CEO Barry McCarthy may be fending off activist investors, but he’s also trying to put his turnaround plan in place for the fitness tech company.
The Peloton Guide is a ‘streaming media box’ with a built-in camera, which hooks up to people’s TVs and studies your movements.
It has been released in the US, Canada, Mexico and the UK, enabling people to punch along to its workouts without needing to buy its $1,495 wall-mounted device.