GoPro to slash 15% of jobs and close entertainment division

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Outlining plans to draw to a close a sustained spell outside of profitability, GoPro has announced that it will cut 15% of its workforce.

Expected to amount to 200 full-time positions, the cuts will be deepened by the closure of the entertainment division.

Tony Bates, the current president is one of those to step aside from the end of 2016. He said: “My time at GoPro has been an incredible experience,” Bates said. “In the past three years, GoPro has seen enormous progress in camera technology, software and international growth. Today GoPro has a solid leadership team deeply focused on its core business and profitability.”

The firm has had a succession of unfortunate problems, including product recalls, delays, slow sales, as well as sales dips as sharp as 49.5%. As part of a deal to have exclusive rights to POV footage, GoPro gave Red Bull a chunk of equity in the business.

Wednesday’s announcement did however reveal that Black Friday sales rose 35% year-on-year, boosting the sales of the new Hero5.

 

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