Peloton Cycles Through Another Turnaround Strategy. Is It Running Out of Time?

As the repayment date for Peloton Interactive’s roughly $1.7 billion in debt comes closer, the embattled at-home fitness company is trying a classic play, hiring a different CEO and cutting about 15% of its staff. The move is Peloton’s latest attempt to strike the right balance for its business, which has struggled since the pandemic-era surge in demand for at-home exercise equipment faded. Consumers went back to in-person workout classes and gyms, and had less need to shell out hundreds of dollars for Peloton’s bikes and treadmills.