Peloton is reportedly planning to eliminate approximately 6% of its workforce as part of a “cost restructuring plan.”
“Our operating expenses remain too high, which hinders our ability to invest in our future,” CEO Peter Stern said in a recent letter to shareholders.
“This is not a decision we came to lightly, as it impacts many talented team members, but we believe it is necessary for the long-term health of our business.”
Stern added that the fitness technology company is looking to achieve “at least $100 million of run-rate savings by the end of [fiscal year 2026].”
Samfiru Tumarkin LLP is working to determine if any Canadian employees at Peloton are affected.
According to LinkedIn, the company currently has more than 50 workers in the country.
If you’re fired or let go from Peloton, understanding your legal rights is crucial.
Non-unionized employees in Canada are entitled to severance pay. This includes individuals working full-time, part-time, or hourly in Ontario, Alberta, and British Columbia (BC).
The amount you’re owed is based on a variety of factors, including your role, tenure, age, and ability to find similar work.
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