Peloton is looking to trim hundreds of jobs as the company continues to reorganize its business which has stalled as the coronavirus-related surge fades. The maker of high-end exercise equipment plans to cut approximately 500 jobs, or about 12% of its workforce. “A key aspect of Peloton’s transformation journey is optimizing efficiencies and implementing cost savings to simplify our business and achieve break-even cash flow by the end of our fiscal year," a company spokesperson said in a statement.