GoPro is without a doubt the first name that comes to mind when thinking about action cameras. While their products dominate the market, the past couple years haven't been the best for the company. Today, it announced that it would be restructuring to reduce its operating expenses.
In its press release the company said, specifically:
"The restructuring includes the closure of its entertainment division, facilities reductions, and the elimination of more than 200 full-time positions plus the cancelation of open positions for a reduction in force of approximately 15 percent."
Along with the shuttering of its entertainment division and layoffs, GoPro also announced that president Tony Bates would leave at the end of the year. Bates was a former EVP at Microsoft and will leave after only being with the company for a little under three years.
Recently, GoPro unveiled its latest line of action cameras with the GoPro HERO5 Black and Session that offers voice control and cloud support. After a delay, they also managed to launch their highly anticipated drone, the Karma, but the hype was short-lived due to a defect that required nearly 2500 delivered drones to be recalled.