Peloton
Peloton for Business includes access to the company's commercial bike, an employee benefit program, exclusive programming and offers for partner organizations.
The company let go of 20% of its workforce last week.
The connected fitness company said this marks the end of its restructuring plans and that its new focus is on growth.
Peloton said it's expanding its partnership with Taiwanese company Rexon Industrial Corp., which will become the primary manufacturer of its bike and treadmill products.
The connected fitness company will also stop developing a manufacturing site and cut its warehousing and logistics operations.
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The heart rate monitor, which retails for $90, is worn around the forearm, unlike the company's other chest band wearable.
The open letter from Blackwells Capital comes days after CEO John Foley said the company was "right-sizing" its production and evaluating layoffs.
Peloton CEO John Foley said the company is considering downsizing.
The Peloton Guide will cost $495 and be available in the U.S. and Canada in early 2022.