GoPro To Cut 15% of Workforce In Restructuring Push
GoPro has announced a restructuring plan that involves cutting about 15% of its workforce. "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," reports Reuters. From the report: The layoffs - around 139 jobs - are expected to begin in the third quarter and would be completed by the end of 2024. Shares of the company, which had 925 full-time employees at the end of the second quarter ended June 30, were up 1.5% after the layoffs were announced. Earlier this month, GoPro reported revenue of $186 million for second quarter, down 22.7% compared to last year and operating expenses of $103 million, an increase of 5% from a year ago.
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"content": "GoPro To Cut 15% of Workforce In Restructuring Push\n\nGoPro has announced a restructuring plan that involves cutting about 15% of its workforce. \"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,\" reports Reuters. From the report: The layoffs - around 139 jobs - are expected to begin in the third quarter and would be completed by the end of 2024. Shares of the company, which had 925 full-time employees at the end of the second quarter ended June 30, were up 1.5% after the layoffs were announced. Earlier this month, GoPro reported revenue of $186 million for second quarter, down 22.7% compared to last year and operating expenses of $103 million, an increase of 5% from a year ago.\n\u003ca href=\"http://twitter.com/home?status=GoPro+To+Cut+15%25+of+Workforce+In+Restructuring+Push%3A+https%3A%2F%2Fslashdot.org%2Fstory%2F24%2F08%2F20%2F0522241%2F%3Futm_source%3Dtwitter%26utm_medium%3Dtwitter\" rel=\"nofollow\"\u003e\u003cimg src=\"https://a.fsdn.com/sd/twitter_icon_large.png\"\u003e\u003c/a\u003e\n\u003ca href=\"http://www.facebook.com/sharer.php?u=https%3A%2F%2Fslashdot.org%2Fstory%2F24%2F08%2F20%2F0522241%2Fgopro-to-cut-15-of-workforce-in-restructuring-push%3Futm_source%3Dslashdot%26utm_medium%3Dfacebook\" rel=\"nofollow\"\u003e\u003cimg src=\"https://a.fsdn.com/sd/facebook_icon_large.png\"\u003e\u003c/a\u003e\n\n\n\nhttps://slashdot.org/story/24/08/20/0522241/gopro-to-cut-15-of-workforce-in-restructuring-push?utm_source=rss1.0moreanon\u0026utm_medium=feed\n at Slashdot.\n\nhttps://slashdot.org/story/24/08/20/0522241/gopro-to-cut-15-of-workforce-in-restructuring-push?utm_source=rss1.0mainlinkanon\u0026utm_medium=feed",
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