Peloton announces 400 layoffs, 15% of the workforce, as CEO Barry McCarthy departs

Peloton, the exercise equipment maker and creator of online fitness classes, has announced that it’s laying off 15 percent of its workforce — 400 people — as CEO, president, and board director Barry McCarthy steps down after two years in the role.

McCarthy was previously CFO at Spotify and Netflix, and was coerced out of retirement in early 2022 when Peloton co-founder and then-CEO John Foley stepped down as part of a major cost-cutting effort that saw 2,800 employees laid off.

This is a developing story, refresh for updates.

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