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In effect this is the end of covid season layoff. Peloton wasn't the only company who made investment mistakes during covid, just very visible. Many big compani
by matwood 4y ago
In effect this is the end of covid season layoff. Peloton wasn't the only company who made investment mistakes during covid, just very visible. Many big companies greatly over hired during the same period. Now they need to correct course.
- colinmhayes 4y agoI’d be hesitant to call this an investment mistake. It was a gamble that covid would permanently change tech consumption habits and that would create new opportunities for big tech. So they hired people for those new unforeseen opportunities. maybe some of them didn’t pan out. Maybe others did but no longer need as many employees. Either way, hiring a bunch of people just to lay them off was clearly at least an option if not the main plan.