GoPro, the renowned action camera manufacturer company, has announced plans to reduce its workforce by approximately 15 per cent. The move is said to be a part of its broader restructuring efforts aimed at cutting operating costs.
https://www.hrkatha.com/hiring-firing/gopro-to-let-go-139-employees/
GoPro to Cut 15% of Workforce as Part of Restructuring Plan
GoPro is set to reduce its workforce by about 15%, which equates to roughly 139 jobs. The layoffs will begin in the third quarter and are expected to be finalized by the end of 2024. Following the announcement, the company's stock saw a 5% increase. At the end of the second quarter, GoPro had 925 full-time employees. Earlier this month, the company reported a second-quarter revenue of $186 million, down 22.7% from the previous year, with operating expenses rising by 5% to $103 million.
For more details, visit https://www.reuters.com/technology/gopro-cut-15-workforce-restructuring-push-2024-08-19/