PYMNTS.com October 3, 2023
Peloton and Lululemon announced a five-year global strategic partnership last week, with the goal of uniting fitness content and athletic apparel to forge a collective community boasting more than 20 million members and guests.
This week, Lululemon is laying off about 120 employees who support Lululemon Studio — the business arm that includes the fitness device Mirror.
Lululemon’s recent layoffs follow a prior round of workforce reductions earlier this year when the company parted ways with 100 employees from the Lululemon Studio business. Back then, Lululemon justified this move as a strategic shift towards prioritizing digital content.
In 2020, Lululemon’s acquisition of Mirror was seen as a strategic move to expand beyond apparel and into the burgeoning...
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