Peloton to close plant in Mount Vernon, 75 employees affected
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.