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Companies like this confuse me. They are cutting 2800 jobs, or 20%, which means they employ 14000. What do 14000 people do at a stationary bike company? (I know
by jawilson2 5y ago
Companies like this confuse me. They are cutting 2800 jobs, or 20%, which means they employ 14000. What do 14000 people do at a stationary bike company? (I know they also make possibly dangerous treadmills, etc).
I misread the headline at first, and thought the total employed was 2800, and they are cutting 20% of that, and I thought 2800 sounded on the high end but reasonable.
- itisit 5y agoThat’s mismanagement for you. Other exercise equipment makers employ a small fraction of Peloton, pre or post layoff. It’s a slick product (I own and use the bike), but fully agree that head count is absurd.
- papito 5y agoTaking VC money and then hiring an unnecessary, inefficient army of engineers with what looks like "growth". That attracts more VC money, until it catches up with the company.
- papito 5y agoThe CEO just bought a $55M Hamptons crib. These are the people who lobby for "small government" and fewer taxes, because they prefer to shell out money as "charity" as crumbs off the table, claiming that the government is not efficient. Then they take a pile of money and set it on fire.