Peloton Announces New Midtown Layoffs

MIDTOWN, NY — Peloton announced that 11 workers would be laid off from their Midtown headquarters, according to a state Department of Labor notice on Friday.

It's the latest in a bad week of Midtown layoffs, as fashion giant PVH announced 123 job cuts just days earlier.

Peloton described the double-digit firing as a "plant layoff," the notice reads, due to a relocation to Plano, TX.

Peloton did not respond to a request for more details. A representative told Patch over the phone that he would be unable to provide any details.

A total of 903 employees work at the company's headquarters at 441 9th Ave., on the corner of West 34th Street.

Peloton has laid off thousands of workers in 2022 during a period of rapid cooling following a pandemic red-hot market cap of $50 million, according to Insider, and also announced in a May earnings call that subscribers have dipped for the first time.

The trendy home exercise company also announced in May that they would be voluntarily recalling about 2.2 million bikes made between 2018 and May 2023 due to reports of seat posts breaking.

Peloton announced plans in 2022 to sublease large sections of both their Midtown headquarters and their corporate office center in Plano, TX, according to The Real Deal.

Just a day earlier, fashion conglomerate PVH — parent company of Calvin Klein, Tommy Hilfiger and more — said that they would be kicking 123 workers to the curb starting Aug. 1.

PVH, which employees 1,407 workers in Midtown, told Crain's that the cuts were a continuation of a 10% reduction announced in 2022.

Workers from three sites will be fired, including 52 people from 501 Seventh Ave., 34 from the Tommy Hilfiger offices 285 Madison Ave. and 37 from the Calvin Klein headquarters at 205 West 39th St.

Neither the 123 PVH workers nor the 11 Peloton workers were represented by a union, according to the layoff notices.