Nearly 800 jobs being cut by Peloton

Photo by: Peloton - Facebook
Photo by: Peloton - Facebook

(New York, NY) -- Peloton is making major changes to the company, and it includes hundreds of layoffs.

After Peloton's business boomed to unthinkable heights, CNBC says customers now just paying a subscription fee each month is not nearly as much revenue as selling actual equipment.

Around 780 jobs are being cut and many retail stores will be closed.

In the meantime, the price of some products will be increasing in a bid to become profitable.

The Bike-plus will cost about 25-hundred dollars. The Tread machine will set a consumer back by about 35-hundred dollars.