GoPro To Cut 270 Jobs, But Company Says It Will Not Impact Hardware/Software Plans

GoPro yesterday announced that it will "cut 270 full-time jobs to lower operating expenses" after "mounting quarterly losses, botched product launches, and having its stock price hit record lows," according to Tracey Lien of the L.A. TIMES. GoPro in a statement said that the cuts would "not affect its plans for new hardware and software, and would enable the company to meet the upper end" of its Q1 revenue target of $190-210M. GoPro execs "estimated the company would spend up" to $10M in severance costs. A GoPro spokesperson said that the cuts will "affect every division of the company -- which has a workforce of 1,552 people -- across all geographies, including Europe" (L.A. TIMES, 3/16). At presstime, shares of GoPro were trading at $8.44 per share, up 14.83% from the close of business yesterday (THE DAILY).