Bike seller Peloton and meditation app Calm cut jobs

Summary:

- US-based meditation app Calm has axed 20% of its workforce which affect about 90 people from its 400-person staff. The firm did not elaborate on the reason for the cuts.

- Peloton also announced another round of job cuts, affecting 800 people. Peloton axed roughly 3,000 jobs in February. The company has been wrestling with falling sales, as demand for its tech-connected exercise equipment drops.