Peloton CEO John Foley denies a production halt on bikes and treadmills in memo to entire company

• Peloton CEO and founder John Foley sent an email and posted a letter to Peloton's site Thursday night.
• In it, he denied — contrary to press reports — that Peloton was pausing production on new equipment.

In a letter sent to all Peloton employees and posted on their corporate site, CEO and founder John Foley addressed recent leaks to organizations like Insider and CNBC. He denied that Peloton planned to pause production of new bikes and treadmills, writing it was instead "right-sizing our production." He also addressed layoffs, saying "we now need to evaluate our organization structure and size of our team, with the utmost care and compassion."

You can read the full letter below:

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