GoPro to Eliminate 23% of Workforce in Cost-Cutting Move
GoPro, the manufacturer of wearable action cameras, has announced a significant restructuring plan approved by its board of directors aimed at reducing operational costs and returning to profitability. The company plans to cut 145 employees, representing approximately 23% of its total workforce. At the end of the first quarter, GoPro employed 631 workers. This decision comes as the company faces ongoing financial challenges and struggles to regain its profit margins. The layoffs mark a strategic shift for the tech firm to streamline operations and improve its financial health amidst a competitive market landscape.
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GoPro to Eliminate 23% of Workforce in Cost-Cutting Move
GoPro, the manufacturer of wearable action cameras, has announced a significant restructuring plan approved by its board of directors aimed at reducing operational costs and returning to profitability. The company plans to cut 145 employees, representing approximately 23% of its total workforce. At the end of the first quarter, GoPro employed 631 workers. This decision comes as the company faces ongoing financial challenges and struggles to regain its profit margins. The layoffs mark a strategic shift for the tech firm to streamline operations and improve its financial health amidst a competitive market landscape.
WSJ.com: US Business