Wednesday, March 2, 2022

Beachbody Cuts 10 Percent Of Staff

El Segundo-bases subscription health and wellness company Beachbody said late Tuesday afternoon that it is cutting 10 percent of its staff, as part of a "strategic realignment" strategy--as it saw a 14% decrease in its digital revenues compared to 2020. According to the publicly traded company, it had total revenues of $216.3M in the fourth quarter, a 4 percent decrease compred to 2020, with digital revenues of $81.9M, a 14 percent decrease compared to 2020. Overall, the company said it had a net loss of $146.0M.