Wearable action-camera manufacturer GoPro will axe 15 per cent of its workforce, the company announced on Wednesday.
The company confirmed that 200 full time employees will no longer have their jobs. This follows a seven per cent reduction in staff numbers from earlier this year. The company said that it does not plan on recruiting new staff for the foreseeable future.
With GoPro’s entertainment division closing, it seems that the wearable device maker wants to safeguard its profits amidst the recall and refund of 2,500 GoPro Karma drones. The drones were recalled because battery issues mean they cannot stay in the air.
GoPro’s sales have been dwindling for the last four consecutive quarters, and the company’s predictions for revenue growth over the festive shopping quarter were disappointing.
GoPro CEO Nick Woodman remains optimistic, and said: “Consumer demand for GoPro is solid and we've sharply narrowed our focus to concentrate on our core business. We are headed into 2017 with a powerful global brand, our best ever products, and a clear roadmap for restored growth and profitability in 2017.”
The company also announced on Wednesday that GoPro president Tony Bates would be stepping down from his role.