Peloton plans to offer new pay incentives to boost employee loyalty as the company plots a turnaround

• Peloton is offering cash and stock incentives to entice employees to stay, according to a report by CNBC.
• The incentives are meant to boost employee morale after recent layoffs and a slowdown in demand for at-home fitness equipment.

Peloton is offering a variety of incentives to retain employees amid a tumultuous year for the company. The at-home fitness company is changing its stock compensation plan for eligible employees and granting cash bonuses to hourly workers, according to a $4 and confirmed by Insider.

Peloton has told eligible employees that their post-IPO stock options will be repriced to Peloton's closing price on July 1 of $9.13, meaning that the threshold to exercise stock options for many employees has been significantly lowered. This offering does not apply to hourly employees or executives in the C-suite.

Many of Peloton's hourly employees told the company they would prefer cash to stock grants, according to CNBC. Those workers will be given a one-time bonus, which will be paid out at the end of February.

In a statement to Insider, Peloton said it was "committed to competitive and equitable compensation for our people."

These employee perks come during a $4 period for the fitness company. Peloton's CEO Barry McCarthy was $4 less than six months ago after the company replaced cofounder John Foley in the role and $4 2,800 workers amid steady quarterly $4 and waning post-pandemic demand for at-home exercise equipment.

Diminishing demand hasn't been Peloton's only problem over the past few months, though. Late last year, HBO's "Sex and the City" reboot $4 a main character dying of a heart attack after a Peloton workout, sending the company's stock plummeting.