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Peloton replaces CEO and lays off 2,800 people

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Re: Peloton replaces CEO and lays off 2,800 people

#61

Post by thedougd »

I agree with lots of the negative sentiment on Peloton, however, the name of the luxury game is to stay ahead of the pack and maintain a premium brand. Much of what they've done to date is maintain a huge catalog of real-time and recorded streaming classes and videos.

I found the news about Peloton working with Google to use Stadia as a platform for gaming on Peloton devices, very interesting. So far, what we've seen from gamified exercise equipment has been cheesy, at best. Seems like there is opportunity there.

On the other hand, it's a durable product and they should worry about market saturation.

Re: Peloton replaces CEO and lays off 2,800 people

#63

Post by inlined »

dkobia wrote: post #54

Peloton has pretty expensive products and induces the same reaction folks had to iPhones before other companies released similarly priced flagships. Generally I think it's easy to hate on these products if you don't have one. I was pretty skeptical myself. "Was", because my partner picked up the Peloton Bike and subsequently the Peloton Tread. Like some other comments here, the almost cultish following is quite fasci…

I’m a fairly new user. I stayed away because I never use my real bike, but a friend got one and said it was helping his air efficiency for scuba.

I have to admit that this is unlike any workout machine I’ve had. Being totally silent is a big deal; I could watch Tv, take a call, or just generally feel less like I’m working. The classes are also a huge deal; I didn’t know my forms and I wouldn’t structure my own workouts to have the interval training they do. The leaderboards against both other students and my own personal PR push me every day (I just beat my last PR by 8%!).

I really hope the company stays afloat. This has been the best I’ve adhered to a workout plan in almost a decade.

Re: Peloton replaces CEO and lays off 2,800 people

#64

Post by jeffrwells »

egberts1 wrote: post #9
jeffrwells wrote: post #4

> Peloton announced Tuesday that it was cutting 2,800 jobs, including approximately 20 per cent of corporate jobs at the New York City company According to the article it sounds like they had ~14,000 employees Edit: I misread. 20% of corporate jobs were cut which contributed to the 2800 number

Or 20% of just the corporate and 100% of everybody else. They’re still a small company.

Oh got it, yep I misread it thanks

Re: Peloton replaces CEO and lays off 2,800 people

#65

Post by KittenInABox »

llampx wrote: post #50
muh_gradle wrote: post #28

Earlier quoted context omitted.

Zoom is most definitely here to stay. I am confident that remote work culture will continue to be a part of normal working culture going forward. There's too many advantages for both labor and businesses to keep remote work alive.

Is Zoom here to stay or is video conferencing here to stay? Google Meets and MS Teams are pretty good and built into their respective Office suite products.

I also prefer google meets, specifically because its live transcription imo beats out zoom's. This is useful/important for people that can have disabilities which involve speech processing. (eg. I know of people with ADHD or autism who would need to request something be repeated simply because the brain didn't process the sounds as speech the first time or something similar, when this isn't a problem when reading text.)

Re: Peloton replaces CEO and lays off 2,800 people

#66

Post by trimbo »

teh_klev wrote: post #18
trimbo wrote: post #10

Earlier quoted context omitted.

That's 20% of the workforce so they still employ over 10,000. (Edit: This is incorrect -- see reply below!) Based on a quick scan of glassdoor, I'd guess most of the people are in sales, customer support, bike repair/delivery, etc.

I think you're interpreting that 20% from the article incorrectly. It actually says: "cutting 2,800 jobs, including approximately 20 per cent of corporate jobs at the New York City company." The headcount figures for January before this announcement were: 3281 - US 283 - UK and Germany 71 - Taiwan https://en.wikipedia.org/wiki/Peloton_Interactive

Whoa!

Thanks for the correction!

Re: Peloton replaces CEO and lays off 2,800 people

#67

Post by ramesh31 »

llampx wrote: post #50
muh_gradle wrote: post #28

Earlier quoted context omitted.

Zoom is most definitely here to stay. I am confident that remote work culture will continue to be a part of normal working culture going forward. There's too many advantages for both labor and businesses to keep remote work alive.

Is Zoom here to stay or is video conferencing here to stay? Google Meets and MS Teams are pretty good and built into their respective Office suite products.

>Is Zoom here to stay or is video conferencing here to stay?

I think Zoom is here to stay at the enterprise level. Video conferencing was always a niche product until the pandemic. It was a big business, but never quite large enough to experience network effects. Now that it's a mainstream part of most people's lives, that has all changed. Zoom was in the right place at the right time to capture that, and it's going to be very hard moving forward for someone to unseat them at this point.

Re: Peloton replaces CEO and lays off 2,800 people

#68

Post by [deleted] »

JumpCrisscross wrote: post #39
muh_gradle wrote: post #28

Earlier quoted context omitted.

Zoom is most definitely here to stay. I am confident that remote work culture will continue to be a part of normal working culture going forward. There's too many advantages for both labor and businesses to keep remote work alive.

> Zoom is most definitely here to stay. I am confident that remote work culture will continue to be a part of normal working culture going forward. I'm with you on the second statement. I don't see the first immutably flowing from it. Zoom is dominant, but switching costs are small and their competitors are well capitalized and eagerly assaulting its fortress. Add to that their geopolitical vulnerability and their lo…

[deleted]

Re: Peloton replaces CEO and lays off 2,800 people

#69

Post by QuercusMax »

KittenInABox wrote: post #65
llampx wrote: post #50

Earlier quoted context omitted.

Is Zoom here to stay or is video conferencing here to stay? Google Meets and MS Teams are pretty good and built into their respective Office suite products.

I also prefer google meets, specifically because its live transcription imo beats out zoom's. This is useful/important for people that can have disabilities which involve speech processing. (eg. I know of people with ADHD or autism who would need to request something be repeated simply because the brain didn't process the sounds as speech the first time or something similar, when this isn't a problem when reading tex…

I find that the live captions also help me when I'm tired or distracted; and sometimes it does a better job that I do of decoding thick accents.

Re: Peloton replaces CEO and lays off 2,800 people

#70

Post by JumpCrisscross »

dbingham wrote: post #47
JumpCrisscross wrote: post #39

Earlier quoted context omitted.

> Zoom is most definitely here to stay. I am confident that remote work culture will continue to be a part of normal working culture going forward. I'm with you on the second statement. I don't see the first immutably flowing from it. Zoom is dominant, but switching costs are small and their competitors are well capitalized and eagerly assaulting its fortress. Add to that their geopolitical vulnerability and their lo…

I'm curious what you mean by 'geopolitical vulnerability'. How are they vulnerable?

> I'm curious what you mean by 'geopolitical vulnerability'. How are they vulnerable?

Zoom's China links have put it in hot water before [1][2][3]. If tensions flared, it could find itself cut off from some combination of a large section of its customers and/or large section of its workforce.

[1] https://www.justice.gov/usao-edny/pr/china-based-executive-u...

[2] https://www.nytimes.com/2020/12/18/technology/zoom-tiananmen...

[3] https://www.bbc.com/news/technology-52200507

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