Posted on August 03, 2022
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 Brady said in an interview.
Ready also emphasized the need to be profitable, particularly as the company eyes an initial public offering. Tonal hasn’t been profitable in the past, he said. But the job cuts will put the company on track to make money in a matter of months, he added.
https://discord.gg/GUPad7ETad