Peloton Employee Layoffs Increasing Drastically

    Author Stas SerfesPosted on Format VideoCategories Investing VideosTags , , , , , , , , ,

     

    Peloton Employee Layoffs Increasing

    So Peloton’s laying off another 500 of their employees. That’s another 12% of their workforce and their fourth layoff of the year.

    The new CEO, Barry McCarthy who came in back in February, he said he’s giving the unprofitable company another six months to see if they can even survive as a standalone business.

    Get this guys, the company has lost money in the last six quarters and in their most recent quarter, they lost $1.2 billion.

    This makes complete sense. Think about it. When everything was locked down, people were buying Pelotons (NASDAQ:PTON), they were signing up for the fitness classes online. Now with the high inflation, people are back to normal, going to in-person gyms.

    It completely destroyed their business model and clearly the stock was a bubble.

    It was at 170 bucks a share in January of 2021. Now it’s at $8 a share. What a disaster. If I had to guess guys, Peloton’s (NASDAQ:PTON) either going to go out of business or they’re going to get bought out by somebody like an Amazon or some other massive company.

    What do you guys think?

    Disclaimer

    Author Stas Serfes
    About the author: Stas Serfes is a stock market investor/trader who owns Strive Smart LLC, a media company that’s amassed millions of views across multiple platforms. Upon graduating college, he realized he wanted to take the entrepreneurial route and create his own path. In 2017 Stas started his Youtube channel “Stas Serfes” where he began creating content on his experiences in the stock market and what he’s learned. This stemmed from his passion about money, business, stocks, and personal finance.