Peloton planning to cut additional 500 jobs to reverse losses: Report

US exercise equipment and media company, Peloton Interactive Inc, said it is planning to cut about 500 jobs to reverse mounting losses.

Chief Executive Barry McCarthy, who took over in February, said he is giving the unprofitable company about another six months to significantly turn itself around and, if that fails, Peloton likely isn’t viable as a stand-alone company, the Wall Street Journal reported on Thursday.

To cut costs, the company cut hundreds of jobs, shuttered stores and outsourced delivery to third parties this year.

It also has eliminated about 600 more jobs since June than previously disclosed through retail