Peloton is cutting hundreds of jobs in a corporate reorganization of its stalled business as the pandemic-related surge ebbs. The maker of high-end exercise equipment cut approximately 500 jobs, or about 12% of its workforce, Peloton said Thursday. Peloton Interactive Inc. said it's completed the vast majority of a restructuring plan begun in February. That plan included a new chief executive and a smaller store base. "The changes we have made, combined with the performance of the business, are moving us closer to our fiscal year-end goal of break-even cash flow, with a renewed focus on growth," said CEO and President Barry McCarthy. Peloton experienced incredible sales growth during the height of the coronavirus pandemic. The New York-based company's share price multiplied by more than five times in 2020 amid lockdowns that made its bikes and treadmills popular among customers who pay a monthly fee to participate in its interactive workouts.