Peloton Reportedly Lays Off 11% Workforce

The workforce reduction mostly impacts engineers working on technology and enterprise-related efforts, the report said.

Peloton Interactive Inc. (PTON) has reportedly slashed 11% of its workforce in a bid to cut costs at the company.

Bloomberg reported on Friday, citing a person familiar with the matter, that CEO Peter Stern informed staff of the move. The workforce reduction mostly impacts engineers working on technology and enterprise-related efforts, the report said.

PTON shares closed down 2% in the regular trading session and edged 1% lower after hours. 

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