GoPro to reduce workforce to trim operating expenses

Action camera maker GoPro Inc.  said it would cut about 15% of its workforce this year, as part of a restructuring plan to reduce operating expenses, according to Reuters.  The company expects to take charges in the range of $5 million to $7 million for the restructuring plan.

The layoffs – around 139 jobs – are expected to begin in the third quarter and will be completed by the end of 2024.  Earlier this month, GoPro reported revenue of $186 million for the second quarter, down 22.7% compared to last year, and operating expenses of $103 million, an increase of 5% from a year ago.