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GoPro cuts 15% of workforce and axes its entertainment division

By Cookie Monster - on 2 Dec 2016, 11:51am

GoPro cuts 15% of jobs and closes its entertainment division

To tide over difficult times, GoPro is going ahead with a company-wide restructuring plan to reduce operating expenses and improve efficiency.

The plan will include cutting jobs by 15%, closing its entertainment division and the elimination of more than 200 full-time positions. In addition, company president Tony Bates will leave the company at the end of the year. 

On a more positive note, GoPro shared that camera units sales on Black Friday in the U.S increased 35% year-over-year. Sales of the devices on Cyber Monday also went up 33% compared to a year ago. Its flagship camera, the Hero 5 Black is the best selling digital imaging device in the U.S based on data provided by the NPD Group. Its first drone, the Karma, was recalled less than a month after hitting retail shelves.

Source: GoPro via Engadget 

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