"GoPro plans to cut nearly a quarter of its workforce, amounting to 145 jobs, to return to profitability after struggling with increased competition and declining revenue."
"The layoffs are expected to cost GoPro as much as $15 million in severance payments and healthcare benefits, with most cuts completed by the end of the year."
"Despite expectations to return to profitability by the end of 2025, GoPro posted a year-end loss, indicating ongoing financial challenges."
"To address competition from rivals like DJI and Insta360, GoPro promises new cameras at the NAB tradeshow that will be more professionally focused than ever before."
GoPro is set to reduce its workforce by nearly 25%, amounting to 145 jobs, in an effort to regain profitability after facing declining revenue and heightened competition. The layoffs, expected to cost up to $15 million in severance and benefits, will occur in the second quarter of 2026, with most completed by year-end. Despite hopes for profitability by the end of 2025, GoPro reported a year-end loss. The company aims to counter competition from DJI and Insta360 with new, professionally focused cameras powered by a new GP3 processor.
Read at The Verge
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