Peloton Interactive Inc

Passengers at an American Airlines gate at the Dallas/Fort Worth International airport in Dallas.Scott Mlyn | CNBCIt wasn't long ago that Amazon, Shopify and Peloton doubled their workforces to manage through the pandemic surge, while Morgan Stanley staffed up to handle a record level of IPOs, and mortgage lenders added headcount as rock-bottom rates led to a refinancing boom.On the flipside, Delta Air Lines, Hilton Worldwide and legions of restaurants slashed headcount because of lockdowns that rolled through much of the…

National Guard troops pose for photographers on the East Front of the U.S. Capitol the day after the House of Representatives voted to impeach President Donald Trump for the second time January 14, 2021 in Washington, DC.Chip Somodevilla | Getty ImagesIn an earnings call this week, Yum Brands CEO David Gibbs expressed the confusion many people are feeling as they try to figure out what's going on with the U.S. economy right now:"This is truly one of the most complex environments we've ever seen in our industry to operate…

Tonal in-home fitness.Source: TonalTonal, the connected fitness equipment maker that counts tennis superstar Serena Williams and Amazon's Alexa fund as backers, is cutting 35% of its workforce, affecting all levels of its business, CNBC has learned.The company employs about 750 people today, compared with a little more than 110 before the Covid-19 pandemic, Chief Executive Officer Aly Orady said in an interview.Orady also emphasized the need to be profitable, particularly as the company eyes an initial public offering.…

Check out the companies making headlines before the bell:PepsiCo (PEP) – The beverage and snack giant reported an adjusted quarterly profit of $1.86 per share, 12 cents above estimates, and revenue topped Wall Street forecasts. The company also raised its full-year forecast as consumer demand holds up even as prices rise. PepsiCo gained 1.2% in the premarket.Gap (GPS) – The apparel retailer's stock slumped 6.3% in the premarket after CEO Sonia Syngal stepped down after two years on the job. She'll be replaced on an…

A Gap store in New York, August 2, 2020.Scott Mlyn | CNBCCheck out the companies making headlines in midday trading.Gap — Shares of the apparel retailer dropped more than 5% after Gap announced Monday that CEO Sonia Syngal is stepping down from her position. Wells Fargo downgraded the stock to equal weight from buy following the move, saying the firm can no longer recommend a stock that is dealing with so many challenges within its own company — especially as investors deal with a difficult economic backdrop.Boeing — The…

A Peloton Interactive Inc. logo on a stationary bike at the company's showroom in Dedham, Massachusetts, U.S., on Wednesday, Feb. 3, 2021.Adam Glanzman | Bloomberg | Getty ImagesPeloton said Tuesday that it plans to exit all of its in-house manufacturing and instead will expand its current relationship with Taiwanese manufacturer Rexon Industrial, in a bid to turn the money-losing business around. Peloton Chief Executive Officer Barry McCarthy said this is a step for the company to simplify its supply chain and fix its…

In this photo illustration the Peloton Interactive logo seen displayed on a smartphone screen.Rafael Henrique | LightRocket | Getty ImagesPeloton sweetened incentives for its workers with one-time cash bonuses and changes to its stock compensation plan as it fights to hold onto employees and fix its struggling business, according to internal memos seen by CNBC.The changes come a little more than five months into Barry McCarthy, a former Spotify and Netflix executive, working to boost the morale at Peloton as part of a…

Stitch Fix said Thursday that it is laying off 15% of salaried positions within its workforce, mostly in corporate roles and styling leadership positions, in a bid to trim expenses amid red hot inflation and waning consumer demand for certain items.CNBC was first to report on the layoffs, which the company confirmed Thursday afternoon as it reported its financial results for the three-month period ended April 30.Stitch Fix said it expects to save between $40 million to $60 million in fiscal year 2023 with the job cuts. It…

FILE PHOTO: Shoppers exit a Target store during Black Friday sales in Brooklyn, New York, U.S., November 26, 2021. Brendan Mcdermid | ReutersCheck out the companies making headlines in midday trading.Target — Shares of the retailer fell more than 4% after the company said it will take a short-term hit to profits as it cancels orders and marks down unwanted merchandise. CEO Brian Cornell said the big-box retailer wants to clear room for merchandise including groceries and back-to-school supplies.Kohl's — The department…

A Peloton exercise bike is seen after the ringing of the opening bell for the company's IPO at the Nasdaq Market site in New York City, New York, U.S., September 26, 2019.Shannon Stapleton | ReutersPeloton's chief financial officer, Jill Woodworth, is leaving the company and will be replaced by Liz Coddington, an executive at Amazon Web Services, effective next week, the company announced Monday.The handover marks another departure among the at-home fitness company's top ranks. Peloton earlier this year appointed Barry…