Motion digital camera maker GoPro plans to chop about 15% of its workforce this yr as a part of a restructuring plan to cut back working bills.
The corporate expects to take fees within the vary of US$5-million to $7-million for the restructuring plan, with money bills of $1-million to be recognised within the third quarter and about $4-million to $6-million within the fourth quarter of 2024.
The layoffs — round 139 jobs — are anticipated to start within the third quarter and could be accomplished by the tip of 2024.
Shares of the corporate, which had 925 full-time staff on the finish of the second quarter ended 30 June, have been up 1.5% after the layoffs have been introduced.
Earlier this month, GoPro reported income of $186-million for second quarter, down 22.7% in comparison with final yr and working bills of $103-million, a rise of 5% from a yr in the past.
The US Worldwide Commerce Fee mentioned in Might it was launching a probe into GoPro’s claims that patents for its cameras, programs and equipment have been being violated by Chinese language agency Arashi Imaginative and prescient as the corporate imported related merchandise into the US. — Juby Babu, (c) 2024 Reuters
