Peloton Interactive (PTON) shares were up nearly 13% in recent Thursday trading after the company said it expects at least $100 million in savings by the end of fiscal 2026 from a restructuring plan that includes a global workforce reduction.
"Our operating expenses remain too high, which hinders our ability to invest in our future," Chief Executive Peter Stern said in a letter to shareholders.
Peloton expects to achieve half of the targeted savings by cutting 6% of its staff, CNBC reported, citing the company.
Price: 7.97, Change: +0.90, Percent Change: +12.73
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