Amid declining sales, tanking stock price and the most recent fiasco, the recall of every Karma drone produced, GoPro has announced a 15% cut in their full time workforce in their struggles to remain profitable. That amounts to about 200 employees, and GoPro is also shuttering their entertainment division which was responsible for producing original content.
The company said on Wednesday it would cut about 200 full-time positions, cancel open positions and close its entertainment division, which makes original content.
GoPro said the cost-cutting would help it achieve its goal of returning to profitability on an adjusted basis next year.
The latest job cuts are in addition to a 7 percent workforce reduction announced at the beginning of the year.
The only good news so far out of GoPro is that despite forecasts from the company preparing investors for a weak holiday season, sales of its cameras in the week of Black Friday increased more than 35 percent from a year earlier at major U.S. retailers.