GoPro Camera Maker Cuts Jobs Again in Search of Profit
- Company eliminates 270 positions, after 15% reduction in 2016
- Operating expenses to be about 18% lower; shares surge
GoPro Cuts More Jobs in Search of Profit
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GoPro Inc. unveiled a second round of job cuts to reduce costs in the face of growing skepticism from Wall Street that the action-camera maker can return to growth and make a profit.
The company said Wednesday it’s eliminating about 270 full-time and open positions. In late November, it chopped 15 percent of its workforce and shut down its entertainment division. GoPro had 1,552 employees at the end of 2016, according to a regulatory filing.