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As Peloton fires over 2,800 employees, it's giving them a free 1-year subscription on the way out
Business Insider ^ | 2/8/22 | Ben Gilbert

Posted on 02/10/2022 6:45:37 AM PST by JonPreston

Peloton is firing over 2,800 employees — including 20% of its corporate workforce — because of an ongoing downturn in the company's business.

As part of the severance plan for the over 2,800 laid off employees, Pelton is offering a curious benefit: a one-year membership to Peloton.

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: chat; peloton
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To: dfwgator
It just needed better graphics.


21 posted on 02/10/2022 7:11:34 AM PST by Larry Lucido (Donate! Don't just post clickbait!)
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To: Vendome
Can’t believe they are a $3.5 Billion dollar company

Can you imagine what a Vic Tanny franchise would be worth today!

22 posted on 02/10/2022 7:12:11 AM PST by JonPreston (Q: Never have so many, been so wrong, so often)
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To: dfwgator

LOL. Right you are.


23 posted on 02/10/2022 7:15:25 AM PST by FlingWingFlyer (You can vote your way into socialism but you have to shoot your way out of it.)
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To: FreedomPoster

They’re just another one of those “keep you on a subscription plan” companies. An enemy of lowering your monthly nut.


24 posted on 02/10/2022 7:15:37 AM PST by glorgau
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To: BBQToadRibs2

Pretty popular at first.

But it is like the gym. If you don’t use it, why pay for it.

Not sure the cost of the subscription, but it isn’t cheap


25 posted on 02/10/2022 7:17:43 AM PST by redgolum (If this is civilization, I will be the barbarian. )
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To: fwdude; FreedomPoster

A significant portion of their workforce are the “trainers” who work remotely, leading the trendy group sessions. If interest is fading, they would likely be the first to be given the boot.


26 posted on 02/10/2022 7:24:57 AM PST by Blurb2350 (posted from my 1500-watt blow dryer)
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To: redgolum

no it’s not....from their site

“Get the Peloton Bike for as low as $45/mo over 39 months at 0% APR. Based on a full price of $1,495 + $250 delivery. Peloton All-Access Membership for $39/mo, accessories and taxes separate. Not available outside the U.S. Delivery restrictions apply.”


27 posted on 02/10/2022 7:25:19 AM PST by Covenantor (We are ruled...by liars who refuse them news, and fools who can not govern. " Chesterton)
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To: nascarnation
Did you see that many who got laid off were able to log into the “all people” meeting with the new CEO and raise a ruckus?

LOL - love that. I need to find that.

28 posted on 02/10/2022 7:25:50 AM PST by Allegra
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To: Vendome

Can’t believe they are a $3.5 Billion dollar company...

at its peak Enron beat them.


29 posted on 02/10/2022 7:27:04 AM PST by Mouton (The enemy of the people is the media )
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To: Blurb2350

So they’ll go back to being personal trainers at a gym, baristas, what have you. Got it.


30 posted on 02/10/2022 7:27:35 AM PST by FreedomPoster (Islam delenda est)
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To: Covenantor

$1745 will get you a pretty nice real bike, and the road’s free.


31 posted on 02/10/2022 7:32:10 AM PST by real saxophonist (Wolf Blitzer claps on 1 and 3.)
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To: JonPreston

I use a real bike on a real road.


32 posted on 02/10/2022 7:39:53 AM PST by Brian Griffin
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To: real saxophonist

plus one gets the real breeze experience and a chance to meet new people...without paying the $40+ monthly fee.


33 posted on 02/10/2022 7:42:07 AM PST by Covenantor (We are ruled...by liars who refuse them news, and fools who can not govern. " Chesterton)
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To: JonPreston

I was a telephone installer in the years leading up to Y2K. The sales staff were using Y2K to sell phone systems and boy were we busy. Year 1999 was a record breaking year for the company... then 2000 hit.

We were not the only ones and so when Y2K came every business that wanted or needed a phone system had one... there were few old systems left. Within months most of the employees were let go, a few sales men, few techs and office staff.

They in effect ate their seed corn.

Peloton is in the same position, every one that wants and can afford their equipment has it and so all they have is the subscription service. The problem is people buy exercise equipment and gym memberships all the time and soon lose interest. Their boom years are over.


34 posted on 02/10/2022 7:45:08 AM PST by CIB-173RDABN (I am not an expert in anything, and my opinion is just that, an opinion. I may be wrong.)
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To: albie

Isn’t that like getting fired from the Dairy and getting a yrs supply of manure as a going away gift?


35 posted on 02/10/2022 7:45:57 AM PST by oldasrocks
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To: JonPreston

The reply to the personal injury lawsuits sunk the brand also aided by the wave of free money and isolation during the lock downs...


36 posted on 02/10/2022 7:49:38 AM PST by databoss
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To: PeterPrinciple

Trim the payroll and increase the subscribers count. Win Win.


37 posted on 02/10/2022 7:56:49 AM PST by sjm_888
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To: BBQToadRibs2

Not to mention the clunky software and a main product that seems to be their big Android screens


38 posted on 02/10/2022 7:57:48 AM PST by PIF (They came for me and mine ... now its your turn)
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To: real saxophonist

$1745 will get you a pretty nice real bike, and the road’s free.


So is the CO1 and the breezes as you are passed at 50-70mph by 2 tons of steel and plastic.


39 posted on 02/10/2022 8:02:27 AM PST by PIF (They came for me and mine ... now its your turn)
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To: cornfedcowboy
Folks are heading back to the gym.

I got a membership at Anytime Fitness over the Christmas holiday. It must have been out of sheer boredom with nothing else to do since I haven't used it once.

At least it was free thru Silver Sneakers.

40 posted on 02/10/2022 8:05:34 AM PST by Hot Tabasco
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