GoPro pre-announcement of its first quarter earnings today. The Company said it plans to cut more than 270 workers.
That figure adds to the list of employees who were fired before, namely 100 people or 7 percent of total employment in the company, which was announced in January 2016, and 200 in November 2016, or 15 percent of total employees.
Reduction came as GoPro has sought to control the company as it faces difficulty throughout 2016. That is a drastic decline in stock prices, the weak 2015 holiday sales, and the withdrawal of drones Karma due to loss of power when in use.
"We set a GoPro financial performance in accordance with the strength of our products and brands," said founder and CEO of GoPro, Nick Woodman, in a statement issued in addition to financial news.
"Reducing the burden will realize our product roadmap and our pursuit of non-GAAP profitability in 2017."
The statement reflects Woodman made similar comments in January at CES and there is some silver lining for the company. Therefore, the stock rose slightly in after hours trading.
As reported by Forbes, a source claimed that most of the cuts target sections of virtual reality and broadcasting companies. The source also claims there is nothing left to oversee the department.
Cutting it definitely reflects Woodman statement at CES that GoPro seeks to shift its focus on core products.
