GoPro to cut 15% of workforce in restructuring push (updated)
19/08/2024 22:39
(Adds details in paragraphs 2-3)
Aug 19 (Reuters) - Action camera maker GoPro GPRO.O
said on Monday it would cut about 15% of its workforce, or close
to 139 jobs, as part of a restructuring plan to reduce operating
expenses.
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.
The layoffs are expected to begin in the third quarter
and be completed by the end of 2024.
(Reporting by Juby Babu in Mexico City; Editing by Mohammed
Safi Shamsi)
((Juby.Babu@thomsonreuters.com;))