Peloton (PTON) Announces Comprehensive Program to Reduce Costs and Drive Growth, Profitability, and Free Cash Flow
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Peloton Announces Comprehensive Program to Reduce Costs and Drive Growth, Profitability, and Free Cash Flow
February 8, 2022 7:03 AM ESTNEW YORK, Feb. 8, 2022 /PRNewswire/ --Â Peloton Interactive, Inc. (NASDAQ: PTON) today announced a series of steps it is taking to position the business for long-term growth while establishing a clear path to consistent profitability and sustainable free cash flow. Once these actions are fully implemented, the company expects to achieve at least $800 million of annual run-rate cost savings through operating expense efficiencies and significant margin improvement in its Connected Fitness category. The company will also reduce its planned capital expenditures in 2022 by approximately $150 million. The restructuring program is expected to result in... More
