Peloton to cut 2,800 jobs, CEO steps down, former Spotify CFO Barry McCarthy to succeed

seekingalpha2022-02-08

Peloton Interactive (NASDAQ:PTON) announced that John Foley is stepping down as CEO and will become executive chair. Its Shares down 12% premarket after rising nearly 21% on takeover news. Over the ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

BaabaaAdrian
2022-02-08
BaabaaAdrian
[Sweats] [Observation]
Ben_the_King
2022-02-08
Ben_the_King
Means takeover is not possible anymore?
Keatchong
2022-02-08
Keatchong
[Smile]
wwwwwwe
2022-02-08
wwwwwwe
👍
Handoko
2022-02-08
Handoko
👌🏻
MoneyFace168
2022-02-08
MoneyFace168
Major restructing may bode well or not. Either way.Who wants to gamble? I will buy if i am their subscriber.

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2209588919?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-02-08 19:01","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2209588919","market":"us","top_or_hot":-1,"title":"Peloton to cut 2,800 jobs, CEO steps down, former Spotify CFO Barry McCarthy to succeed","media":"seekingalpha","content":"<div>\n<p>Peloton Interactive (NASDAQ:PTON) announced that John Foley is stepping down as CEO and will become executive chair. Its Shares down 12% premarket after rising nearly 21% on takeover news. Over the ...</p>\n\n<a href=\"https://seekingalpha.com/news/3797029-peloton-ceo-steps-down-former-spotify-cfo-barry-mccarthy-to-succeed\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Peloton to cut 2,800 jobs, CEO steps down, former Spotify CFO Barry McCarthy to succeed</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPeloton to cut 2,800 jobs, CEO steps down, former Spotify CFO Barry McCarthy to succeed\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-08 19:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3797029-peloton-ceo-steps-down-former-spotify-cfo-barry-mccarthy-to-succeed><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Peloton Interactive (NASDAQ:PTON) announced that John Foley is stepping down as CEO and will become executive chair. Its Shares down 12% premarket after rising nearly 21% on takeover news. Over the ...</p>\n\n<a href=\"https://seekingalpha.com/news/3797029-peloton-ceo-steps-down-former-spotify-cfo-barry-mccarthy-to-succeed\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PTON","symbol_name":"Peloton Interactive, Inc.","start_time":0,"source_url":"https://seekingalpha.com/news/3797029-peloton-ceo-steps-down-former-spotify-cfo-barry-mccarthy-to-succeed","article_id":"2209588919","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2209588919","pubTimestamp":1644318085,"columns":[],"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Peloton Interactive (NASDAQ:PTON) announced that John Foley is stepping down as CEO and will become ","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PTON":"Peloton Interactive, Inc.","SPOT":"Spotify Technology S.A."},"translate_title":"珀洛东裁员2800人，首席执行官辞职，前Spotify首席财务官巴里·麦卡锡成功","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SPOT":1,"PTON":0.9},"content_text":"Peloton Interactive (NASDAQ:PTON) announced that John Foley is stepping down as CEO and will become executive chair. Its Shares down 12% premarket after rising nearly 21% on takeover news. Over the period of one year shares have plunged ~80%.Co-founder John Foley, who has led the company for its entire 10-year existence.President William Lynch is also stepping down from his executive role but will remain on the board.Barry McCarthy, the former chief financial officer of Spotify Technology SA and Netflix Inc., will succeed as CEO and president and will join the company's board.To cope-up with the drop-off in demand and widening losses, the company announced to cut roughly 2,800 jobs, which will impact 20% of its corporate positions.The company said it expects to cut roughly $800M in annual costs and reduce capital expenditures by roughly $150M this year.Two weeks ago, activist investor Blackwells Capital LLC called for Peloton to fire Mr. Foley and explore a sale of the company, attracting potential buyers like Amazon (NASDAQ:AMZN), Nike (NYSE:NKE), Apple (NASDAQ:AAPL) and a host of other companies.The company is all set to report FQ2 results post market today. Preliminary Q2 revenue came in at $1.14B with 2.77M subscribers in January.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9096109389,"gmtCreate":1644321105940,"gmtModify":1676533912076,"author":{"id":"4093173077803380","authorId":"4093173077803380","name":"BaabaaAdrian","avatar":"https://static.tigerbbs.com/4bf38d5557bf71342acc503e79dd3d11","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4093173077803380","authorIdStr":"4093173077803380"},"htmlText":"[Sweats]&nbsp;[Observation]&nbsp;","listText":"[Sweats]&nbsp;[Observation]&nbsp;","text":"[Sweats] [Observation]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9096109389","repostId":2209588919,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9096374413,"gmtCreate":1644320529422,"gmtModify":1676533912030,"author":{"id":"3582161512309317","authorId":"3582161512309317","name":"Ben_the_King","avatar":"https://static.tigerbbs.com/c6f71703a565dd7321dc4f3e075f63a0","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":5,"crmLevelSwitch":1,"idStr":"3582161512309317","authorIdStr":"3582161512309317"},"htmlText":"Means takeover is not possible anymore?&nbsp;","listText":"Means takeover is not possible anymore?&nbsp;","text":"Means takeover is not possible anymore?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9096374413","repostId":2209588919,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9096374239,"gmtCreate":1644320506890,"gmtModify":1676533912023,"author":{"id":"3585533321890062","authorId":"3585533321890062","name":"Keatchong","avatar":"https://static.tigerbbs.com/962d8182c1d59790b14d50d1b5eb494f","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":3,"crmLevelSwitch":1,"idStr":"3585533321890062","authorIdStr":"3585533321890062"},"htmlText":"[Smile]&nbsp;","listText":"[Smile]&nbsp;","text":"[Smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9096374239","repostId":2209588919,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9096376803,"gmtCreate":1644319776601,"gmtModify":1676533911947,"author":{"id":"4093588364915330","authorId":"4093588364915330","name":"wwwwwwe","avatar":"https://static.tigerbbs.com/77a33c203572d8406ef36091e7631caa","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"4093588364915330","authorIdStr":"4093588364915330"},"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9096376803","repostId":2209588919,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9096378056,"gmtCreate":1644319559470,"gmtModify":1676533911906,"author":{"id":"4099864714926520","authorId":"4099864714926520","name":"Handoko","avatar":"https://static.tigerbbs.com/9890fec8f477f8bc166d5453e7ce66f8","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":2,"crmLevelSwitch":1,"idStr":"4099864714926520","authorIdStr":"4099864714926520"},"htmlText":"👌🏻","listText":"👌🏻","text":"👌🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9096378056","repostId":2209588919,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9096379180,"gmtCreate":1644318973097,"gmtModify":1676533911857,"author":{"id":"4099482900818530","authorId":"4099482900818530","name":"MoneyFace168","avatar":"https://static.tigerbbs.com/7bdd85e800730854af8b21f55ba73619","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":5,"crmLevelSwitch":0,"idStr":"4099482900818530","authorIdStr":"4099482900818530"},"htmlText":"Major restructing may bode well or not. Either way.Who wants to gamble? I will buy if i am their subscriber.","listText":"Major restructing may bode well or not. Either way.Who wants to gamble? I will buy if i am their subscriber.","text":"Major restructing may bode well or not. Either way.Who wants to gamble? I will buy if i am their subscriber.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9096379180","repostId":2209588919,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":60,"commentSize":6,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2209588919"}