Peloton hints at cuts after report on fall in demand for exercise bikes

As shareprice drops, CEO admits firm needs to evaluate' size of workforce and reset production

Peloton is considering workforce cuts and production changes as investors hammered its share price after a report said it was considering halting the manufacture of its exercise bikes because of a slump in demand.

The company's chief executive, John Foley, said a report by CNBC claiming that it plans to temporarily halt production of its exercise bike and treadmill products was incomplete, out of context, and not reflective of Peloton's strategy".