Technology
Peloton will lay off 400 employees amid the departure of CEO Barry McCarthy
The 15% staff cuts are part of a wider cost-cutting effort
Peloton, exercises equipment manufacturer and provider of online fitness courses, he said it’s slowing down 15% of the workforce (roughly 400 people) as part of cost reduction measures. The company also announced that its CEO, president and director of the board, Barry McCarthy: he would relent after two years on this position.
McCarthy, who previously served as chief financial officer at Spotify and Netflix, was forced to retire in early 2022 when Peloton co-founder and then-CEO John Foley left his position as part of a sweeping cost-cutting effort. consequently of which 2,800 employees were dismissed. Foley remained as executive chairman, but seven months later he left the company together with co-founder and chief legal officer Hisao Kushi.
Peloton says it’s in the process of finding McCarthy’s successor, and current Peloton chairwoman Karen Boone and executive Chris Bruzzo will function interim co-CEOs during the transition.
Peloton went public in 2019 with an initial valuation of $6 billion, and its fortune skyrocketed after the pandemic hit. As the world settled into homes and other people looked for tactics to remain healthy with home exercise equipment, the company’s bikes and online courses virtually disappeared from shelves, ultimately giving it a market capitalization of $50 billion in early 2021.
But when the world returned to normal, Peloton’s stock also returned to normal, and its market capitalization fell to $10 billion in January 2022, a 12 months after its peak.
Currently, the New York-based company’s market capitalization is just over $1 billion. Still, the company’s shares were up about 13.3% in pre-market trading on Thursday morning, apparently driven by Peloton’s announcement that it might cut costs.
In addition to cutting its workforce by 15%, Peloton said it also intends to further reduce its footprint in retail showrooms and double its international growth with a more “targeted and effective” go-to-market strategy. Together, these steps are expected to assist the company reduce annual expenses by greater than $200 million by the end of fiscal 12 months 2025.
These announcements got here just before Peloton reported worse-than-expected revenues and losses for the third quarter of 2024and a 21% decline in paid app subscriptions in comparison with the previous 12 months. When the company announced its second-quarter ends in February, its shares fell 24% to an all-time low continued after reporting decline in revenues and dismal prospects for the coming months.
Technology
US medical device giant Artivion says hackers stole files during a cybersecurity incident
Artivion, a medical device company that produces implantable tissue for heart and vascular transplants, says its services have been “disrupted” resulting from a cybersecurity incident.
In 8-K filing In an interview with the SEC on Monday, Georgia-based Artivion, formerly CryoLife, said it became aware of a “cybersecurity incident” that involved the “compromise and encryption” of information on November 21. This suggests that the corporate was attacked by ransomware, but Artivion has not yet confirmed the character of the incident and didn’t immediately reply to TechCrunch’s questions. No major ransomware group has yet claimed responsibility for the attack.
Artivion said it took some systems offline in response to the cyberattack, which the corporate said caused “disruptions to certain ordering and shipping processes.”
Artivion, which reported third-quarter revenue of $95.8 million, said it didn’t expect the incident to have a material impact on the corporate’s funds.
Technology
It’s a Raspberry Pi 5 in a keyboard and it’s called Raspberry Pi 500
Manufacturer of single-board computers Raspberry Pi is updating its cute little computer keyboard device with higher specs. Named Raspberry Pi500This successor to the Raspberry Pi 400 is just as powerful as the present Raspberry Pi flagship, the Raspberry Pi 5. It is on the market for purchase now from Raspberry Pi resellers.
The Raspberry Pi 500 is the simplest method to start with the Raspberry Pi because it’s not as intimidating because the Raspberry Pi 5. When you take a look at the Raspberry Pi 500, you do not see any chipsets or PCBs (printed circuit boards). The Raspberry Pi is totally hidden in the familiar housing, the keyboard.
The idea with the Raspberry Pi 500 is you could connect a mouse and a display and you are able to go. If, for instance, you’ve got a relative who uses a very outdated computer with an outdated version of Windows, the Raspberry Pi 500 can easily replace the old PC tower for many computing tasks.
More importantly, this device brings us back to the roots of the Raspberry Pi. Raspberry Pi computers were originally intended for educational applications. Over time, technology enthusiasts and industrial customers began using single-board computers all over the place. (For example, when you’ve ever been to London Heathrow Airport, all of the departures and arrivals boards are there powered by Raspberry Pi.)
Raspberry Pi 500 draws inspiration from the roots of the Raspberry Pi Foundation, a non-profit organization. It’s the right first computer for college. In some ways, it’s a lot better than a Chromebook or iPad because it’s low cost and highly customizable, which inspires creative pondering.
The Raspberry Pi 500 comes with a 32GB SD card that comes pre-installed with Raspberry Pi OS, a Debian-based Linux distribution. It costs $90, which is a slight ($20) price increase over the Raspberry Pi 400.
Only UK and US keyboard variants will probably be available at launch. But versions with French, German, Italian, Japanese, Nordic and Spanish keyboard layouts will probably be available soon. And when you’re in search of a bundle that features all the things you would like, Raspberry Pi also offers a $120 desktop kit that features the Raspberry Pi 500, a mouse, a 27W USB-C power adapter, and a micro-HDMI to HDMI cable.
In other news, Raspberry Pi has announced one other recent thing: the Raspberry Pi monitor. It is a 15.6-inch 1080p monitor that’s priced at $100. Since there are quite a few 1080p portable monitors available on the market, this launch is not as noteworthy because the Pi 500. However, for die-hard Pi fans, there’s now also a Raspberry Pi-branded monitor option available.
Technology
Apple Vision Pro may add support for PlayStation VR controllers
According to Apple, Apple desires to make its Vision Pro mixed reality device more attractive for gamers and game developers latest report from Bloomberg’s Mark Gurman.
The Vision Pro was presented more as a productivity and media consumption device than a tool geared toward gamers, due partly to its reliance on visual and hand controls moderately than a separate controller.
However, Apple may need gamers if it desires to expand the Vision Pro’s audience, especially since Gurman reports that lower than half one million units have been sold to this point. As such, the corporate has reportedly been in talks with Sony about adding support for PlayStation VR2 handheld controllers, and has also talked to developers about whether they may support the controllers of their games.
Offering more precise control, Apple may also make other forms of software available in Vision Pro, reminiscent of Final Cut Pro or Adobe Photoshop.
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