{"id":19947,"date":"2022-02-09T19:38:10","date_gmt":"2022-02-10T00:38:10","guid":{"rendered":"https:\/\/lakelandgazette.info\/news\/?p=19947"},"modified":"2022-02-09T19:39:05","modified_gmt":"2022-02-10T00:39:05","slug":"peloton-to-lay-off-60-and-close-lakeland-location","status":"publish","type":"post","link":"https:\/\/lakelandgazette.info\/news\/2022\/02\/09\/peloton-to-lay-off-60-and-close-lakeland-location\/","title":{"rendered":"Peloton to lay off 60 and close Lakeland location"},"content":{"rendered":"\n

Peloton announces closure of Lakeland location, nearly 60 layoff<\/p>\n\n\n\n

Nearly 60 workers at a Peloton location in Lakeland are losing their jobs.<\/p>\n\n\n\n

A federal Worker will permanently close. Warehouse associates, field specialists and certified service technicians are among those being laid off.<\/p>\n\n\n\n

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The news continues a tough Adjustment and Retraining Notification Act (WARN) notice<\/a> stated the location on New Tampa Highway stretch for the high-tech stationary bicycle and Treadmill Company. Peloton announced Tuesday<\/a> that it’s no longer going to build a $400 million facility in Ohio, which was expected to bring in 2,000 jobs and $138 million in new annual payroll.<\/p>\n\n\n\n

The same day, co-founder John Foley<\/a> stepped down as CEO.<\/p>\n\n\n\n

The company also announced it is cutting 2,800 jobs globally, including a 20% cut at its corporate offices.<\/p>\n\n\n\n

Peloton\u2019s shares have plummeted from a peak of $162.70 in December 2020 to less than $40 on Wednesday.<\/p>\n\n\n\n

Company shares surged during the early days of the pandemic, but as more people are returning to the gym, its bottom line has been affected.<\/p>\n\n\n\n

You can read the entire notice below:<\/p>\n\n\n

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