Peloton

Peloton co-founders John Foley and Hisao Kushi are resigning from the company. The leadership changes come as the fitness giant has embarked on an $800 million restructuring plan.

Peloton Interactive, he fitness equipment and media company, also faces investigations from the Department of Justice, Department of Homeland Security and US Securities and Exchange Commission.

Peloton's disappointing results come after it embarked on an $800 million restructuring plan, which has included sweeping layoffs and price hikes on its Bike+ and Tread products.

The exercise equipment company is taking steps to shore up finances, according to Chief Executive Officer Barry McCarthy, who took over earlier this year.

Peloton's move comes as the fitness giant has announced an $800 million restructuring plan to turn its business around and create positive cash flow.

A federal judge said Peloton Interactive customers will be allowed to prove they overpaid for subscriptions because the exercise equipment and media company allegedly knew on-demand classes would be removed from its digital library.

Here is a FOX Business roundup of the companies that have either laid employees off or halted or slowed hiring.

Christopher Meloni goes completely nude for the latest Peloton advertisement. In past interviews, Meloni shared that he enjoys working out naked at his own home.

Exercise equipment company Peloton announced it will no longer be manufacturing its own products, instead opting to partner with Taiwanese corporation Rexon.

Peloton will stop making its bikes and treadmills and will outsource both product lines to Taiwanese manufacturer Rexon Industrial Corp. as it works to reduce costs.

After helping to guide the company for the past four years, Peloton CFO Jill Woodworth is stepping down from her role. She will serve as a a consultant on an interim basis through Sept. 13, 2022.

The fitness giant posted a net loss of $757.1 million, or $2.27 per share, compared with a loss of $8.6 million during the same period a year ago, while revenue slipped 24% year over year to $964.3 million, compared with $1.26 billion in the year-ago period.

Peloton shareholders have lost nearly $2 billion in market value since Barry McCarthy assumed the role of chief executive officer, according to Blackwells Capital.

FOX Business consulted fitness experts and current Peloton promotions to help consumers decide if they should buy Peloton equipment or subscriptions or look elsewhere based on exercises preferences and financial factors.

Peloton Interactive Inc's stock price tumbled more than 50% in the last three months of 2021 but several prominent investment firms were so sure the at-home fitness company could regain its footing that they bought new or added to existing positions.

Peloton's leadership change is not enough, says one investor. A sale is still the best option.

Peloton's first company-wide meeting including new CEO Barry McCarthy was zoom-bombed by angry axed employees according to a report

Peloton put the pedal to the metal in a massive restructuring, sending investors on a wild ride. But is it sustainable?

Peloton instructors are being spared from the fitness company’s job cutback and “restructuring program,” which is expected to result in around $130 million in severance payouts and other exit activities to approximately 2,800 employees around the world.

Peloton is in crisis mode and a takeover may be the best solution to stop the stock's downward spiral.