Peloton Interactive's chief executive said the company was reviewing the size of its workforce and "resetting" production levels.
"We now need to evaluate our organisation structure and size of our team," CEO John Foley said. "And we are still in the process of considering all options ... to make our business more flexible." Peloton earlier in the day said it was taking "significant corrective actions" to improve its profitability and estimated second-quarter revenue to be about $1.14 billion, compared with its previous forecast of $1.1 billion to $1.2 billion.
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