those are pre-pandemic levels that will eventually lead to higher costs for autos, homes and other consumer debt. jobless claims climbed 286,000 last week. that s more than expected, the highest since october. layoffs are likely related to the omicron surge. jobless claims are still at pre-pandemic levels. all right. this pandemic winner, peloton. let s go, peloton. bring that thunder. bring that sunday, or maybe bring on some layoffs and a production reset. that s what the c.e.o. was saying after this bombshell cnbc report of a big drop in demand for the company s bikes. c.e.o. john foley acknowledging peloton is considering all options. he is denying rumors of a production halt production reset is what they re calling it. it sent shares plummeting 21%. the worst day in two months. the c.e.o. added the company plans legal action against a leaker of confidential company info. you know, you look at netflix, look at peloton.
their stay at home shell. peloton first. it lost a third after rumors of a big drop in demand for bikes. john foley confirmed there could be layoffs and what he called a production reset. he acknowledged peloton is considering all options. it is because cnbc revealed leaked documents to temporarily pause productions of bikes and treadmills after blistering demand the company found itself with too much inventory. and stock of another pandemic winner, netflix, dropped about 20%, down 20% after hours. fewer new subscribers in the fourth quarter. they will not add as many in the first quarter as expected. they blamed competition from rivals and not enough original programming early in the first quarter. it s not expecting any big new releases until later this year. if you re one of those squid games fans, the second season is