Peloton Interactive Inc announced plans to cut about 2,800 jobs globally in February, roughly 20% of its corporate roles, as part of a surprise shake-up that saw its CEO John Foley and several other top executives step down. — Reuters
Despite some promising economic signs recently, more tech companies are hitting the pause button on their hiring plans. They’re instituting freezes, rescinding jobs offers and even resorting to layoffs (with one CEO showing his remorse by sobbing on social media).
ALSO READ: The ‘crying CEO’ says he loves his employees – even those he laid off
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