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Peloton is cutting another 500 jobs in a move that CEO Barry McCarthy said should position the struggling fitness equipment maker to return to growth. The cuts, which amount to about 12% of Peloton’s workforce, mark a pivot point for the company, McCarthy told CNBC Thursday. Peloton already had multiple rounds of layoffs this year. “The restructuring is done with today’s announcement,” McCarthy said. “Now we’re focused on growth.” McCarthy said the company now has to prove its recent spate of strategy changes, including equipment rentals and partnerships with Amazon and Hilton, can help the company grow. Peloton raising bike prices, cutting jobs and closing locations Aug. 15, 2022 01:54 Shares of Peloton seesawed in premarket trading. The stock is down about 76% so far this year. McCarthy has overseen drastic changes to Peloton’s business model this year as the company struggled with sales after a boom during the earlier days of the Covid pandemic. A former Spotify and Netflix executiv...

Peloton is cutting another 500 jobs in a move that CEO Barry McCarthy said should position the struggling fitness equipment maker to return to growth. The cuts, which amount to about 12% of Peloton’s workforce, mark a pivot point for the company, McCarthy told CNBC Thursday. Peloton already had multiple rounds of layoffs this year. “The restructuring is done with today’s announcement,” McCarthy said. “Now we’re focused on growth.” McCarthy said the company now has to prove its recent spate of strategy changes, including equipment rentals and partnerships with Amazon and Hilton, can help the company grow. Peloton raising bike prices, cutting jobs and closing locations Aug. 15, 2022 01:54 Shares of Peloton seesawed in premarket trading. The stock is down about 76% so far this year. McCarthy has overseen drastic changes to Peloton’s business model this year as the company struggled with sales after a boom during the earlier days of the Covid pandemic. A former Spotify and Netflix executiv...

In this article ADBE DECK WYNN FSR NSC NFLX PYPL HUM ARNC Adobe Systems world headquarters in downtown San Jose, Calif. Lisa Werner | Moment Mobile | Getty Images Check out the companies making headlines in midday trading. Netflix — The streaming stock gained 7% after Evercore ISI upgraded Netflix to an outperform rating and said its stock could rally more than 30% as it rolls out an ad-supported service and cracks down on password sharing. related investing news Here are Thursday's biggest analyst calls: Tesla, Wynn, Netflix, Nordstrom, Marriott, Fisker & more Michael Bloom 4 hours ago Credit Suisse upgrades Wynn Resorts, says the casino stock can nearly double Samantha Subin 6 hours ago Adobe — Adobe shares slumped 15% on news that it's acquiring a design software firm known as Figma for roughly $20 billion in cash and stock. The company beat earnings estimates for the period but shares mixed guidance for the current quarter. Oracle - Shares of the software company dropp...