Peloton gives up plan to open Ohio factory with 2,000 jobs

TOLEDO, Ohio (AP) — Peloton is ending its plans to open its first U.S. factory in Ohio. It would have employed 2,000 workers near Toledo. The decision announced Tuesday by the home fitness equipment maker comes as it plans a major restructuring. The company broke ground on the site this past summer and had expected to begin production there in 2023. But those plans changed quickly as demand for its interactive bikes and treadmills dropped off. Construction already was underway on the factory. Peloton says it will finish work on the building’s shell and sell it and the surrounding land.