Action Camera Maker GoPro Lays Off 23 Percent of Workforce to Cut Costs

The company’s stock price has fallen by almost 94 percent in the past five years.
Action Camera Maker GoPro Lays Off 23 Percent of Workforce to Cut Costs
A GoPro Hero 6 camera in Las Vegas on Jan. 9, 2018. David Becker/Getty Images
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Camera maker GoPro announced a 145-person layoff, roughly 23 percent of its global headcount, on April 7, as part of a company-wide restructuring plan to cut operating costs and increase operating leverage.
The layoffs will begin this quarter and are expected to finish by the end of 2026.