Peloton’s CEO doesn’t understand why people aren’t happier he laid off 500 people
This morning’s news that Peloton is cutting 12 percent of its workforce doesn’t immediately read as a promising sign for the beleaguered smart fitness company.
But in a memo sent to employees on Thursday afternoon, CEO Barry McCarthy explains that he thought a background discussion with The Wall Street Journal ahead of announcing the cuts would lead to a headline about Peloton’s potential growth. He’s apparently surprised to learn that the report accentuated the negative and said the CEO “is giving the unprofitable company about another six months to significantly turn itself around and, if that fails, Peloton likely isn’t viable as a stand-alone company.”
Now, McCarthy is refuting the idea that the company only has six months to...