Pebble isn’t the only company that’s facing problems right now as action camera maker GoPro has been suffering on the profits department as well. Unlike Pebble, GoPro has resorted to layoffs and the discontinuation of its entertainment division to keep itself afloat.
For the layoffs part, GoPro is expected to undergo a restructuring move that would see 200 employees being laid off. In addition to that, GoPro will also be cancelling some yet-to-be-filled job openings. Current GoPro Company President Tony Bates will also be leaving the company by the end of the year, although it is unclear if his departure has anything to do with GoPro’s performance in the market. This move is expected to lead to a reduction in force of approximately 15 percent for GoPro.
The layoffs, coupled with the closure of GoPro’s entertainment division and facilities reduction is expected to reduce the company’s operating expense to USD735. GoPro believes that this figure will allow GoPro to return to profitability on an adjusted basis in 2017.
Source: GoPro
