Ailing California-headquartered camera maker to slash 15 percent of workforce in mass layoffs

The job cuts, which will affect around 138 employees, are expected to be completed by the end of the year.Photo byJakob OwensonUnsplash

GoPro has announced plans to reduce its workforce by 15 percent as part of a broader restructuring strategy aimed at cutting operating expenses by $50 million. The San Mateo-based company, known for its wearable camera technology, revealed the layoffs in a recent filing with the Securities and Exchange Commission.

The job cuts, which will affect around 138 employees, are expected to be completed by the end of the year. This move comes after GoPro indicated its intent to reduce expenses during its second-quarter earnings call on August 6. Currently, the tech firm employs 925 full-time workers.

The restructuring plan is part of GoPro's effort to streamline operations and improve financial performance as it adapts to changing market conditions.