GoPro is cutting 23 percent of its workforce

GoPro has announced plans to cut nearly a quarter of its workforce in a bid to return to profitability, after suffering from increased competition and declining revenues.

Discounts announced in A File Form 8-Kis expected to reach 145 jobs, roughly 23 percent of GoPro’s 631 employees, and could cost GoPro up to $15 million in severance payments and health care benefits. The company says the cuts will be implemented during the second quarter of 2026, and most of the layoffs will be completed by the end of the year. Company Workers who have been laid off before In two separate rounds in 2024.

GoPro had expected to return to profitability by the end of fiscal 2025, but instead posted a loss at the end of the year. In recent years, action cameras and 360-degree cameras have faced increasing competition from competitors including DJI and Insta360. To meet this challenge, the company a promise These new cameras are set to debut at the NAB trade show this month and will be powered by New GP3 processorwill be “more professionally focused than ever before.”