Peloton, the fitness company which has had financial issues in recent months, is shutting down its exercise bike plant in Mount Vernon, according to a notice filed with the State Labor Department.

The company cited economic reasons for the closing which will affect 75 employees when it takes effect on May 9.

A total of 2,800 employees are being laid off as the company's stock price has plummeted.

In-home exercise equipment thrived during the pandemic, but sales dropped as people returned to gyms.