It's déjà vu for the luxury fitness company: Peloton is cutting about 400 more jobs, and its CEO is stepping down just two years after a major shakeup.
Users of Peloton, the exercise-machine-slash-social media company, can choose between what seems like an endless selection of workouts guided by friendly, funny, and fit instructors. One of the company's most popular instructors, with more than 280,000 Instagram followers, has roots here in Georgia: Matt Wilpers.
There have been reports of the seat detaching during use, causing injuries. This is Peloton's second recall for its machines. Two years ago, the company recalled its Tread+ exercise machines.
The fitness company had received over 150 reports of safety incidents linked to its popular Tread+ machine — including the death of a child — before notifying regulators, a U.S. safety agency said.
Tesla, JPMorgan, Netflix, Redfin and Coinbase are among companies that are cutting jobs. While layoffs are contained to the hottest parts of the economy, there's fear they could spread elsewhere.
During lockdown, gyms were out of the question. But some people felt more comfortable exercising at home, and companies hope to keep attracting new users by making VR apps more addictive and fun.
During lockdown, gyms were out of the question. But some people felt more comfortable exercising at home, and companies hope to keep attracting new users by making VR apps more addictive and fun.
The Sex and the City star told The Hollywood Reporter that the allegations are "categorically false." The ad that was withdrawn had been viewed more than 3 million times online.
In a filing with the SEC, Peloton said it was being investigated for its reporting on injuries associated with one of its treadmill products, the Tread+.
Hackers can gain remote access to a Peloton bike's camera and microphone and can monitor users. They can also add apps disguised as Netflix and Spotify to get login credentials.
The fitness company initially refused to comply with the government's request for a recall after dozens of safety incidents, one of which resulted in a 6-year-old's death.
The U.S. Consumer Product Safety Commission has issued a warning about the Peloton Tread+ after reports of children being injured. Peloton insists the machine is safe when used as directed.
