Peloton competitor Tonal cuts 35% of workforce as it prepares for possible recession, IPO

Tonal, the connected fitness equipment maker that counts tennis superstar Serena Williams and Amazon’s Alexa fund as backers, is cutting 35% of its workforce, affecting all levels of its business, CNBC has learned. The company employs about 750 people today, compared with a little more than 110 before the Covid-19 pandemic, Chief Executive Officer Aly Orady said in an interview.

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