GoPro to Lay Off 23% of Employees
▼ Summary
– GoPro is laying off 145 employees, which is about 23% of its workforce.
– The layoffs are part of a plan to return to profitability amid competition and falling revenue.
– The company expects to spend up to $15 million on severance and benefits for the cuts.
– These job reductions will occur in Q2 2026 and be mostly finished by year’s end.
– GoPro had already conducted two separate rounds of layoffs in 2024.
GoPro is preparing to lay off nearly a quarter of its global workforce, a drastic measure aimed at restoring financial stability. The company, facing intense market competition and falling sales, will eliminate approximately 145 positions. This represents about 23 percent of its employees and is projected to incur up to $15 million in related costs for severance and benefits.
According to a recent regulatory filing, the workforce reduction will be executed during the second quarter of this year, with the majority of cuts finalized before 2027. This announcement marks the third significant round of layoffs for the action camera pioneer in recent years, following two separate reductions implemented in 2024. The company had previously anticipated a return to profitability by the end of last year, but those expectations have not been met.
The decision underscores the persistent challenges within the consumer electronics market, where GoPro must contend with rivals offering lower-priced alternatives and the ubiquity of high-quality smartphone cameras. The financial strain from these restructuring charges will be a significant near-term burden as the company seeks to streamline operations and refocus its business strategy for a sustainable future.
(Source: The Verge)
