10:27 AM EDT, 08/07/2025 (MT Newswires) -- Peloton Interactive ( PTON ) shares were up nearly 13% in recent Thursday trading after the company said it expects at least $100 million in savings by the end of fiscal 2026 from a restructuring plan that includes a global workforce reduction.

"Our operating expenses remain too high, which hinders our ability to invest in our future," Chief Executive Peter Stern said in a letter to shareholders.

Peloton expects to achieve half of the targeted savings by cutting 6% of its staff, CNBC reported, citing the company.

Price: 7.97, Change: +0.90, Percent Change: +12.73