GoPro to reduce workforce to trim operating expenses

GaryPageau
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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.

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Gary Pageau is principal of InfoCircle LLC, continuing his marketing communications career. InfoCircle LLC is a marketing and communications consulting firm, specializing in business-to-business markets. For nearly 25 years, he was with PMA International, serving most recently as Publisher, Content Development and Strategic Initiatives. His primary responsibilities included overseeing the Association’s editorial department, marketing research unit, education and corporate relations department.