GoPro In Hot Water: To Layoff 200 Employees

GoPro is trying to tighten the purse strings with their decision to layoff at least 200 full-time employees. Aside from this, they will be closing their entertainment division as the company finds it hard to establish themselves.

The company further confirmed last Wednesday that they will cancel open job positions and cut back on their facilities to save them as much as $100 million per year. Along with this, company's president Tony Bates will be leaving GoPro at the end of this year.

GoPro is a well-known brand for wearable camera. They had been the number one choice of thrill-seekers, athletes, and just anyone who like to capture video while they are on the move. The brand became Silicon Valley's favorite in 2014, thanks to its unique product lineup like those durable cameras that can withstand extreme sports.

Brian T. McGee, the chief financial officer of the company, said that they will be cutting their workforce by as much as 15% or around 200 employees. They will further cut back on their contractors.

In his statement, he failed to address who will replace Bates. He simply shrugged off requests for comments. Tony Bates was quoted saying that his three years of stay with GoPro is "an incredible experience" and he further described that the company “has a solid leadership team deeply focused on its core business and profitability.”

It seems like 2016 isn't a very good year for GoPro. Just this month, the company announced that they will have at least 2,500 recall for their Karma drones because they seem to be "falling out of the sky".
McGee, however, assured the public that they are working hard to get them back on the market. He even said that these misfortunate events will become their "growth driver". He further confirmed that they will focus more on drones, cameras, and software and anything that are not part of its main business “we are going to basically not do anymore.”