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GoPro, the sports camera manufacturer, rose by 1.15% in the U.S. stock market. It will cut about 15% of its staff this year.
On August 20th, GoPro (GPRO.US), a sports camera manufacturer, rose by 1.15% to $1.325. On the news front, GoPro said on Monday local time that as part of the restructuring plan to reduce operating costs, it will cut about 15% of its workforce this year. The company expects the restructuring plan to cost between $5 million and $7 million, with $1 million in cash expenditures to be confirmed in the third quarter and about $4 million to $6 million to be confirmed in the fourth quarter of 2024. This round of layoffs will affect about 139 positions and is expected to begin in the third quarter and be completed by the end of 2024.
Sport camera manufacturer gopro announced that it will cut about 15% of its workforce this year.
GoPro announced on Monday that it will lay off about 15% of its workforce as part of the restructuring plan to reduce operating costs. The company expects the restructuring plan to cost between $5 million and $7 million, with $1 million in cash expenditures to be recognized in the third quarter and approximately $4 million to $6 million to be recognized in the fourth quarter of 2024. The layoffs will affect about 139 positions and are expected to begin in the third quarter and be completed by the end of 2024. As of the end of the second quarter on June 30, the company had 925 full-time employees.