(Bloomberg) -- Peloton Interactive Inc. is laying off a significant number of employees for the fourth time this year as part of an effort to save the struggling business, Chief Executive Officer Barry McCarthy told staff on Thursday. Most Read from BloombergNord Stream Leaks Caused by Detonations in Sign of SabotageMusk's Twitter Takeover Hits Snag Over Debt-Financing IssueKremlin Lets State Media Tell Some Truths About Putin’s Stalling WarTrump Says US Agency Packed Top-Secret Documents. These
Amid a consumer spending shift from goods to experiences, the hospitality market is poised to recover quickly.
Shares of Peloton are rising upon news that the exercise bike company is partnering with Hilton to provide its bikes to 5,400 hotel's locations.