Victoria Song
Lululemon’s laying off 120 people following Peloton deal.
Lululemon isn’t wasting time getting out of connected fitness. Following news it’s outsourcing content production to Peloton and halting Mirror sales, the company is laying off an additional 120 employees from its Studio division. This is a second round too, after laying off another 100 employees in July.
This is hardly surprising. Connected fitness companies that relied on premium hardware sales are all struggs to func these days. Turns out, the average joe isn’t fond of shelling out thousands for smart gym equipment when a digital subscription is much, much cheaper.
Lululemon is throwing in the towel on Mirror
Victoria Song
