View all newsletters
Receive our newsletter - data, insights and analysis delivered to you

GoPro to cut 200 jobs as camera sales struggle

The restructuring will see closure of its entertainment division.

By CBR Staff Writer

Action camera-maker GoPro has announced to cut 200 jobs or 15% of its workforce, as part of its restructuring efforts to revive its business.

The latest job cuts follow the announcement made in January this year to axe 7% of its total staff.

Under the new restructuring plan, the company plans to close its entertainment division and shutdown some of its facilities.

Besides, GoPro announced that Tony Bates will depart from his position as president of the company at the end of the year.

Bates said: “In the past three years, GoPro has seen enormous progress in camera technology, software and international growth.  Today GoPro has a solid leadership team deeply focused on its core business and profitability.”

The company estimates that it would incur a cost of approximately $24m to $33m for the restructuring.

It also announced that the company-wide restructuring will result in reducing 2017 operating expenses to approximately $650m and reach its goal of returning to profitability next year.

Content from our partners
Why food manufacturers must pursue greater visibility and agility
How to define an empowered chief data officer
Financial management can be onerous for CFOs, but new tech is helping lighten the load

gopro-heroGoPro Founder and CEO Nicholas Woodman said: “Consumer demand for GoPro is solid and we’ve sharply narrowed our focus to concentrate on our core business.

“We are headed into 2017 with a powerful global brand, our best ever products, and a clear roadmap for restored growth and profitability in 2017.”

However, the company said its Black Friday camera unit sales this year grew more than 35% year-over-year at leading US retailers.

In October, it launched HERO 5 cameras after the introduction its previous model Hero 4 two years ago.

Earlier this month, the company issued a recall for its nearly 2500 Karma drones bought by consumers since October 23.

The recall was announced after detecting that Karma drones went out of power during operation in a very small number of cases.

Woodman said: “A very small number of Karma owners have reported incidents of power failure during operation. We have moved quickly to recall all units of Karma and provide a full refund while we investigate the issue.”

Topics in this article: ,
Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
THANK YOU