{"id":1282958,"date":"2022-02-08T13:46:16","date_gmt":"2022-02-08T18:46:16","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1282958"},"modified":"2022-02-08T18:52:33","modified_gmt":"2022-02-08T23:52:33","slug":"peloton-fires-ceo-and-nearly-3000-employees-as-speculation-about-a-big-tech-buyout-grows","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/peloton-fires-ceo-and-nearly-3000-employees-as-speculation-about-a-big-tech-buyout-grows\/","title":{"rendered":"Peloton Fires CEO And Nearly 3,000 Employees As Speculation About A Big Tech Buyout Grows"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fpeloton-fires-ceo-and-nearly-3000-employees-as-speculation-about-a-big-tech-buyout-grows%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1282958&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/01\/GettyImages-903921722-1.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p><span>Peloton Interactive is falling to pieces, replacing its CEO as speculation about a merger continues to grow.<\/span><\/p>\n<p><span>The company \u2014 which manufactures stationary exercise bikes through which users can complete virtual fitness classes \u2014 has witnessed a remarkable slowdown in demand since the COVID-19 lockdowns that originally presented new growth opportunities. Peloton will slash 2,800 jobs, representing 20% of its corporate workforce. Instructors will not be affected by the move.<\/span><\/p>\n<p><span>Meanwhile, Peloton co-founder John Foley will end his decade-long tenure as CEO, instead assuming the role of executive chairman. He will be replaced by former Spotify CFO Barry McCarthy.<\/span><\/p>\n<p><span>Peloton\u2019s stock began the year at roughly $35; by the end of January, the price declined to $24. In recent days, however, the price has surged above $37 amid speculation over a buyout.<\/span><\/p>\n<p><span>The change in leadership follows recent pressure from investors hoping for a merger, according to <\/span><a href=\"https:\/\/www.wsj.com\/articles\/peloton-ceo-john-foley-to-step-down-become-executive-chair-11644314403?mod=hp_lead_pos2\"><span>The Wall Street Journal<\/span><\/a><span>:<\/span><\/p>\n<blockquote>\n<p><i><span>A little over two weeks ago, activist investor Blackwells Capital LLC called for Peloton to fire Mr. Foley and explore a sale of the company, which the Journal has reported is attracting potential suitors including Amazon.com Inc.<\/span><\/i><\/p>\n<p><i><span>Blackwells reiterated its call Tuesday, saying Mr. Foley should leave the company entirely rather than become executive chairman. Blackwells also released a 65-page presentation in which it estimated a sale could value Peloton above $65 a share. Peloton shares closed Monday at $29.75.<\/span><\/i><\/p>\n<\/blockquote>\n<p><span>Many have pointed to Apple, Nike, and Amazon as potential suitors for Peloton.<\/span><\/p>\n<p><span>\u201cWith media reports swirling that Peloton could be up for sale with Amazon and Nike potential suitors, we would be shocked if Apple is not aggressively involved in this potential deal process,\u201d Wedbush Securities managing director Dan Ives wrote in an investor note shared with <\/span>the <a href=\"https:\/\/nypost.com\/2022\/02\/07\/peloton-stock-up-on-amazon-nike-or-apple-takeover-speculation\/\"><span>New York Post<\/span><\/a><span>. \u201cAcquiring Peloton would be a major strategic coup and catalyze the company\u2019s aggressive health and fitness initiatives.\u201d&nbsp;<\/span><\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2022\/02\/08\/why-apple-wont-buy-peloton.html\"><span>CNBC<\/span><\/a><span> technology editor Steve Kovach, however, does not see an Apple buyout in the cards.<\/span><\/p>\n<p><span>\u201cApple rarely makes large acquisitions. Peloton\u2019s market cap was a bit more than $12 billion by Tuesday afternoon. Apple has never even come close to buying a company that large. Its largest acquisition to date was Beats for $3 billion,\u201d he wrote. \u201cBesides that, just about every other acquisition has been too small for Apple to meet the requirements to report them. We usually only find out about an Apple acquisition after someone in the press reports on it.\u201d<\/span><\/p>\n<p><span>\u201cApple is obsessed with making its own hardware and software, and keeping high profit margins,\u201d he added. \u201cPeloton makes giant Android tablets with clunky software, connected to exercise gear. Plus, Peloton continues to lose money and its margins would put a drag on Apple\u2019s own margins if the two companies merged.\u201d<\/span><\/p>\n<p><span>As <\/span><a href=\"https:\/\/www.dailywire.com\/news\/peloton-employees-undergo-anti-racist-training-that-claims-grandfathered-in-blacklisted-are-white-supremacist-terms\"><span>The Daily Wire<\/span><\/a><span> revealed last year, Peloton employees were forced to undergo an \u201canti-racist\u201d training that claimed common phrases such as \u201cgrandfathered in\u201d are \u201cwhite supremacist\u201d terms.&nbsp;<\/span><\/p>\n<p><span>The firm\u2019s \u201cAntiracism Activation Center\u201d provided employees with resources on \u201cglobal perspectives\u201d on racism, \u201cantiracism\u201d strategies for allies, strategies for enacting systemic change, tools for creating race-related conversations at home \u2014 including \u201cage-appropriate\u201d resources for families \u2014 and a \u201cBrave Conversation Speaker Series.\u201d&nbsp;<\/span><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.&nbsp;<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Peloton Interactive is falling to pieces, replacing its CEO as speculation about a merger continues to grow.The company \u2014 which manufactures stationary exercise bikes through which users can complete virtual &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1282958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1282958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1282958"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1282958\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1282958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1282958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1282958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}