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 ...
Can you imagine what a Vic Tanny franchise would be worth today!
LOL. Right you are.
They’re just another one of those “keep you on a subscription plan” companies. An enemy of lowering your monthly nut.
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
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.
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.”
LOL - love that. I need to find that.
Can’t believe they are a $3.5 Billion dollar company...
at its peak Enron beat them.
So they’ll go back to being personal trainers at a gym, baristas, what have you. Got it.
$1745 will get you a pretty nice real bike, and the road’s free.
I use a real bike on a real road.
plus one gets the real breeze experience and a chance to meet new people...without paying the $40+ monthly fee.
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.
Isn’t that like getting fired from the Dairy and getting a yrs supply of manure as a going away gift?
The reply to the personal injury lawsuits sunk the brand also aided by the wave of free money and isolation during the lock downs...
Trim the payroll and increase the subscribers count. Win Win.
Not to mention the clunky software and a main product that seems to be their big Android screens
$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.
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.
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