Peloton becomes the latest pandemic boomtime business to announce restructuring, as out... - 0 views
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shawndab on 28 Aug 22As a spa & fitness leader, I have had many hotel guests tell me they access the hotel finder on the Peloton site to make their accommodation decisions.
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Peloton is set to axe around 800 jobs, increase the price of its equipment and close some of its retail operations as part of efforts to turn around the decline in its business.
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gyms being forced to close and people looking for alternative exercise options – a "pivot" with which Peloton became near-synonymous
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cease making its own products and, instead, expand its partnership with Taiwan-based manufacturer Rexon.
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The move came just 14 months after Peloton acquired equipment creator Precor, in a deal worth US$420m, renaming it Peloton Commercial.
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Peloton Bike+ will increase by US$500 to US$2,495. The price of the Peloton Tread will increase by US$800 to US$3,495
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"Price is just one of the many levers we will continue to explore as part of our business transformation strategy."