SUMMARY
GoPro has announced a significant restructuring plan that includes a global workforce reduction of approximately 23%, affecting around 145 employees. This move, estimated to cost between $11.5 million and $15 million, aims to reduce operating costs and improve financial leverage. The company reported US$93.5 million in losses last fiscal year and a decline in action camera sales. Despite these challenges, GoPro is set to announce new cameras this month, hinting at expansion into vlogging and cinema-grade cameras with larger sensors, potentially marking a significant shift in its product catalog.
TAKEAWAYS
GoPro is reducing its workforce by 23% (approx. 145 employees).
The restructuring aims to cut operating costs and drive leverage.
New cameras, including vlogging and cinema models, are launching soon.
The company experienced financial losses and decreased action camera sales last year.