Wednesday November 30, 2016

GoPro To Cut About 15% Of Workforce

Hey GoPro, remember back at the beginning of the year when you decided to quit selling entry level cameras? How's that working out for you now?

GoPro Inc said on Wednesday it would cut about 15 percent of its workforce as the company restructures its once fast-growing action camera business. GoPro said it will cut about 200 full-time positions, cancel open positions and shut down its entertainment division as part of the restructuring. The company said it expects to incur about $24 million to $33 million in restructuring charges, mostly in its fourth quarter.