KEY POINTS
  • Peloton has to prove that its recent spate of strategy changes can help the company grow, CEO Barry McCarthy told CNBC.
  • The fitness equipment maker is cutting another 500 jobs after multiple layoff rounds this year.
  • "The restructuring is done with today's announcement," McCarthy said. "Now we're focused on growth."

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Peloton is cutting another 500 jobs in a move that CEO Barry McCarthy said should position the struggling fitness equipment maker to return to growth.

The cuts, which amount to about 12% of Peloton's workforce, mark a pivot point for the company, McCarthy told CNBC on Thursday. Peloton already has had multiple rounds of layoffs this year.

In this article