(Reuters) – Peloton Interactive is planning to cut about 12% of its remaining workforce, in its fourth round of layoffs this year, the Wall Street Journal reported on Thursday, citing a company statement.

The 500 job cuts were announced to staff on Thursday, the newspaper reported, adding the reductions will leave Peloton with roughly 3,800 employees globally.

Peloton was not immediately available for comment.

The company said earlier this year that it would cut about 2,800 jobs as it looks to revitalize sagging sales and win back investor confidence.

(Reporting by Priyamvada C in Bengaluru; Editing by Anil D’Silva)