The fitness company has hemorrhaged money recently, but it called this most recent move “a natural progression” of company strategy.
for tech companies, the fitness bike maker called getting out of manufacturing “a natural progression.”to hook users with its video-based workout routines tiedbikes. This move is just another part of CEO Barry McCarthy’s previously-announced plans to get Peloton running on stable footing. The company had
back in February at the same time it announced it was laying off 20% of the company, around 2,800 jobs.“We believe that this along with other initiatives will enable us to continue reducing the cash burden on the business and increase our flexibility,” McCarthy said in the release. The company had previously split the task of manufacturing between itself and other companies, including Rexon. The fitness company had been working with Rexon for years, according to Andy Rendich, Peloton’s chief supply chain officer. He said in the release that Peloton will keep 100 staff in Taiwan “who continue to play a key role in our engineering and manufacturing strategy.
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