Peloton’s plan to build the company’s first U.S. factory in the Toledo area has been scrapped, and the company’s CEO is stepping down, the company announced in a news release.
Peloton also announced it was cutting 2,800 jobs, with the bulk of those coming at its headquarters in New York City. The announcements are part of a cost-saving effort the company expects will save around $800 million.
Read More