Peloton Interactive, Inc., is putting the brakes on operating expenses, owing to the softening of an in-home fitness equipment boom that ran concurrent to nationally rising pandemic numbers. Therefore the manufacturer is cutting 3,000 jobs companywide, including 100 in Bristol. Ryan Mulligan saddled up to report the story for the Philadelphia Business Journal.

Peloton’s Bristol warehouse is implementing a “reduction in force,” according to a notice filed with the Pa. Dept. of Labor and Industry. The paperwork does not forecast closure of the Bucks County site.

Messaging to affected employees committed to a “meaningful cash severance allotment,” career services, health care benefits extended for “a period of time,” and a 12-month Peloton membership.

The mass layoffs come after the company reported a second-quarter net loss of more than $439 million. Its internal financial data show reduced revenue projections for 2022 of approximately a billion dollars.

More on the business bumps that tipped over this worldwide fitness brand is at the Philadelphia Business Journal.