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Get woke go broke? Peloton fires nearly 3,000 employees AND its CEO as company implodes

February 10, 2022 | | Print Article

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Less than a year after the “woke” exercise equipment company Peloton was exposed for indoctrinating its employees in “anti-racist” propaganda, the company has completely collapsed and is now reportedly firing its CEO and laying off over 2,800 employees.

The outgoing CEO, Peloton co-founder John Foley, will still retain a position with the company as executive chairman for now, according to a press release from Peloton published Tuesday. The nearly 3,000 employees, however, are plumb out of luck.

The terminations come as part of a restructuring that’s designed to reduce costs by roughly $800 million, according to the press release.

Such steep cost reduction is necessary because the company has been dropping in value nearly nonstop since late 2020.

(Source: Google)

Notice how the company’s value began to increase rapidly in mid 2020 before peaking right around the time that the COVID vaccine began being released.

“For a while Peloton enjoyed high times as a pandemic darling, with homebound customers ordering its exercise equipment and streaming its virtual classes. Its valuation soared,” according to The Wall Street Journal.

“But its fortunes sagged as lockdowns eased and gyms started to fill up again. The company’s value had fallen from a high of around $50 billion roughly a year ago to around $8 billion last week.”

So the official reason for Peloton’s decline is American society’s return to normal. That being said, some suspect that the company’s “woke” politics may have also played a role in its collapse, albeit perhaps not as big of a role.

Last April, the company was exposed for running a so-called “Antiracism Activation Center” that indoctrinated employees in “anti-racist” propaganda.

In fact, Foley himself went on to proudly tout the “Antiracism Activation Center” on Twitter a couple months later:

DEI stands for “diversity,” “equity” and “inclusion.” There’s a reason it can be arranged to spell DIE. “Equity” is a code word for equal outcomes. In a system built on DEI (or DIE), “anti-racist discrimination” is used to ensure equal outcomes for everybody.

This is why, for instance, the Biden administration virulently supports affirmative action. Although it discriminates against Asians, it boosts blacks and Hispanics, thus ostensibly leveling the playing field.

This is also why the administration saw nothing wrong with distributing debt relief to all American farmers except for the white ones:

So-called “anti-racism” is itself racism, but just packaged differently — and justified by the left on the basis that it promotes so-called “equity.”

Peloton has also been credibly accused of discriminating against Democrat President Joe Biden’s critics by blocking users of its fitness app from using the hashtag #LetsGoBrandon.

According to PJ Media, the company’s also banned the hashtags #StopTheSteal, #TrumpWon and #AllLivesMatter. Conversely, the company is perfectly fine with hashtags such as #BlackLivesMatter and #DefundThePolice.

Peloton openly celebrates “Latinx Heritage Month” versus Hispanic or Latin Heritage Month:

And Peloton quickly jumped on the #BlackLivesMatter bandwagon when the devastating BLM riots of 2020 erupted:

At the time the post was published, critics pounced, claiming they would be returning their bikes and never ordering from Peloton again:

BLM supporters meanwhile showered the company with love and vowed to buy a Peloton:

Apparently, they didn’t stick to their vow.

One of Peloton’s biggest investors, Blackwells Capital LLC, is so displeased with the company’s decline that it’s reportedly begun pushing for Foley’s complete ouster and also calling for the company to be sold outright.

“A little over two weeks ago, activist investor Blackwells Capital LLC called for Peloton to fire Mr. Foley and explore a sale of the company, which the Journal has reported is attracting potential suitors including Amazon.com Inc,” according to Journal.

“Blackwells reiterated its call Tuesday, saying Mr. Foley should leave the company entirely rather than become executive chairman. Blackwells also released a 65-page presentation in which it estimated a sale could value Peloton above $65 a share.”

As of Thursday morning, Peloton was at $38.77 a share …

Vivek Saxena
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