Peloton to let go of 400 employees as CEO steps down

Peloton is shaking up its leadership team again as the company has announced another round of layoffs as sales continue to slump.

The fitness company said CEO Barry McCarthy will be stepping down from his position and is being replaced by Karen Boone and Chris Bruzzo as co-CEOs. Boone, Peloton’s chairwoman, and Bruzzo, a director at the company, will serve as interim CEOs while the company seeks a permanent one.

Peloton is also seeking to downsize its employment by approximately 15%, which is expected to affect roughly 400 employees.

FILE – A Peloton logo is seen on the company’s stationary bicycle on Nov. 19, 2019, in San Francisco. (AP Photo/Jeff Chiu, File)

McCarthy’s departure comes around two years after he took on the position of CEO in February 2022, when he announced mass layoffs to help restructure the company. The
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