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GoPro to cut 15 percent of workforce, close entertainment unit

November 30, 2016 by · Leave a Comment 

(Reuters) – Wearable action camera maker GoPro Inc said it would cut about 15 percent of its workforce and shut down its entertainment business, as the one-time Wall Street favorite looks to lower costs and return to profitability. GoPro has been struggling with slowing sales of its wearable action cameras and the recall of its recently launched Karma drones. The company said on Wednesday it will cut about 200 full-time positions, cancel open positions and shut down its entertainment division, which produces original content, as part of the restructuring.

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GoPro to cut 15 percent of workforce, close entertainment unit

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