GoPro is restructuring and cutting around 15 percent of jobs in an effort to improve its struggling business. The latest job cuts, around 200 positions, follow a cut of 7 percent of GoPro’s workforce back in January, and they include the closure of GoPro’s entertainment division. GoPro president Tony Bates, who was previously Skype CEO and a Microsoft executive, will also depart the company at the end of the year as a result of the restructuring.
While GoPro is touting its Black Friday camera sales today, the company has been struggling to maintain and grow sales without new products to boost consumer spending. GoPro took two years to introduce the Hero 5, a follow up to the Hero 4 camera, and units only started shipping last month. GoPro also introduced its Karma drone in September, and was forced to recall it after some units “lost power during operation” and fell out of the sky.
GoPro has seen its stock price plummet this year, and these latest job cuts won’t help improve investor confidence. “We have a lot of work to do to finish the quarter and our fiscal year,” says GoPro CEO Nicholas Woodman. “However our HERO5 cameras have been very well-received by critics and consumers alike.