GoPro to cut 15% of workforce in restructuring push

Quick Summary:

:Action camera maker GoPro said on Monday it would cut about 15 per cent of its workforce, or close to 139 jobs, as part of a restructuring plan to reduce operating expenses.

The layoffs are expected to begin in the third quarter and be completed by the end of 2024.

The company expects to take charges in the range of $5 million to $7 million for the restructuring plan, with cash expenses of $1 million to be recognized in the third quarter and about $4 million to $6 million in the fourth quarter of 2024.

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Article Details

Category: EconomyBusiness

Markets: SingaporeUnited States

Topics: Quarter Camera Experience Third Restructuring Mediacorp Expenses 2024 Million Plan Gopro

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-20 @ 05:33:22 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 161 words

Reading Time: 1 minutes read

Sentences: 9 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 22156399

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