Peloton To Slash Another 500 Jobs: Reports

RTTNews | 1047 dagar sedan
Peloton To Slash Another 500 Jobs: Reports

(RTTNews) - Fitness equipment maker Peloton Interactive, Inc. (PTON) is reportedly planning to cut about 500 jobs or 12 percent of its remaining workforce. This will be the company's fourth round of layoffs this year as it struggles to return to profit.

Following the job cut that was reportedly announced to employees earlier in the day, the company will have a total of about 3,800 global employees.

In August, the company said it would cut nearly 800 more jobs and raise prices of its Bike+ and Tread machines. The company also revealed plans to outsource functions such as equipment deliveries and customer service.

In July, the New York-based company said it would halt all in-house production of its bikes, move manufacturing to partners and cut around 570 jobs.

Early this year, Peloton announced plans to cut about 2800 jobs globally.

read more
Japanese Market Modestly Lower

Japanese Market Modestly Lower

The Japanese stock market is trading modestly lower on Tuesday after opening in the green, reversing some of the gains in the previous two sessions, following the mixed cues from Wall Street overnight, with the Nikkei 225 falling below the 43,500 level, with weakness in index heavyweights and financial stocks partially offset by gains in automakers and exporters.
RTTNews | 38 minuter sedan
Thai Shares May Take Further Damage On Tuesday

Thai Shares May Take Further Damage On Tuesday

The Thai stock market has finished lower in three straight sessions, slipping more than 35 points or 3 percent along the way. The Stock Exchange of Thailand now sits just above the 1,240-point plateau and it may extend its losses on Tuesday.
RTTNews | 58 minuter sedan
Little Movement Seen For Indonesia Stock Market

Little Movement Seen For Indonesia Stock Market

Ahead of Monday's holiday for Independence Day, the Indonesia stock market had snapped the five-day winning streak in which it had surged more than 440 points or 5.8 percent. The Jakarta Composite Index now sits just beneath the 7,900-point plateau and it's likely to remain stuck in neutral again on Tuesday.
RTTNews | 1h 28minuter sedan
Soft Start Expected For Hong Kong Stock Market

Soft Start Expected For Hong Kong Stock Market

The Hong Kong stock market has moved lower in three straight sessions, slumping more than 430 points or 1.5 percent along the way. The Hang Seng Index now rests just above the 25,175-point plateau and it may continue to sputter on Tuesday.
RTTNews | 1h 43minuter sedan
Australian Market Significantly Lower

Australian Market Significantly Lower

The Australian stock market is trading significantly lower on Tuesday, extending the losses in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,900 level, with weakness in gold miners and energy stocks partially offset by gains in iron ore miners and financial stocks.
RTTNews | 1h 47minuter sedan
China Shares Tipped To Open In The Red

China Shares Tipped To Open In The Red

The China stock market has moved higher in two straight sessions, advancing more than 60 points or 1.7 percent along the way. The Shanghai Composite Index now sits just beneath the 3,730-point plateau although it may had back those gains on Tuesday.
RTTNews | 1h 58minuter sedan