GoPro cuts 15% of workforce and axes its entertainment division
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.