“Operating Expenses Remain Too High”: Peloton Slashing 6% of Staff

What’s Happening at Peloton?

Peloton is reportedly planning to eliminate approximately 6% of its workforce as part of a “cost restructuring plan.”

“Our operating expenses remain too high, which hinders our ability to invest in our future,” CEO Peter Stern said in a recent letter to shareholders.

“This is not a decision we came to lightly, as it impacts many talented team members, but we believe it is necessary for the long-term health of our business.”

Stern added that the fitness technology company is looking to achieve “at least $100 million of run-rate savings by the end of [fiscal year 2026].”

Impact on Canadian Staff

Samfiru Tumarkin LLP is working to determine if any Canadian employees at Peloton are affected.

According to LinkedIn, the company currently has more than 50 workers in the country.

• SEE ALSO: Layoffs in Canada: Which Employers are Slashing Staff?

Next Steps for Peloton Employees

If you’re fired or let go from Peloton, understanding your legal rights is crucial.

Non-unionized employees in Canada are entitled to severance pay. This includes individuals working full-time, part-time, or hourly in Ontario, Alberta, and British Columbia (BC).

The amount you’re owed is based on a variety of factors, including your role, tenure, age, and ability to find similar work.

📺 WATCH: Everything Non-Unionized Employees Need to Know About Severance Pay

Key Severance Facts:

• Compensation: Severance packages, which can be as much as 24 months’ pay, may include salary, bonuses, commissions, and other forms of compensation. Use our firm’s free Severance Pay Calculator to better understand your entitlements.
• Deadlines: You generally have up to 2 years from the date of your termination to review and negotiate severance offers.
• Action steps: Consult an employment lawyer at Samfiru Tumarkin LLP to ensure your severance package is fair and aligns with Canadian employment laws.

Lost Your Job at Peloton? Contact Us

If you’ve lost your job at Peloton for any reason, the experienced employment law team at Samfiru Tumarkin LLP can help.

Our lawyers in Ontario, Alberta, and BC have helped tens of thousands of non-unionized individuals resolve their workplace issues.

📞 Call us today at 1-855-821-5900 or request a consultation online.

Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and SHOULD NOT be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.