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GoPro cuts over 20% of workforce due to Covid-19

By Cookie Monster - on 17 Apr 2020, 12:00am

GoPro cuts over 20% of workforce due to Covid-19

The GoPro Hero 8.

The Covid-19 outbreak has forced GoPro to take drastic measures to reduce operating expenses which include a workforce reduction and a strategic re-alignment. 

GoPro plans to cut its workforce by more than 20% which involves over 200 employees. Nicholas Woodman, the co-founder and CEO of GoPro, will forego the remainder of his salary until the end of the year. The Board of Directors also volunteered to forego the reminder of their cash compensation through the end of the year. 

The company will embark on a strategic re-alignment to be a more efficient and profitable direct-to-consumer-centric business. Measures taken include office space reductions in five geographies, reductions in sales and marketing expenditure for this year and beyond, and additional reductions in spending across the business.

The staff layoffs and strategic re-alignment will not affect GoPro's 2020 product roadmap. This includes new hardware, software and subscription products that will serve both GoPro camera owners and smartphone-only users.

Source: GoPro