"GoPro's stock has fallen from highs of more than $93 in 2014 to just 80 cents today, with a current market cap of just under $122 million."
"The company will lay off 145 of its 631 employees starting in the second fiscal quarter, resulting in charges of between $11.5 million and $15 million."
"Despite reducing costs by 26% from the previous year, GoPro posted a $9.1 million loss in the fourth quarter, indicating ongoing financial struggles."
"Challenges such as tariffs, rising memory costs, and supply issues have compounded GoPro's difficulties, which have been exacerbated by a history of failed expansions."
GoPro will lay off 145 employees, reducing its workforce by 23% as part of a turnaround plan. The company has seen its stock plummet from over $93 in 2014 to 80 cents today, with a current market cap of under $122 million. Despite cutting costs by 26% from the previous year, GoPro reported a $9.1 million loss in the fourth quarter. Challenges include tariffs, rising memory costs, and supply issues, alongside a history of failed expansions into media and drones.
Read at Fast Company
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