GoPro will cut its workforce by 23% to restore profitability

GoPro plans a nearly quarter reduction in staff

*The company announced its intention to lay off about 145 employees (≈ 23 % of the total 631), to return to a profitable business model.*

What happened
1. Planned layoffs

- GoPro notified the U.S. Securities and Exchange Commission of an upcoming workforce reduction.

- The cut is slated for 145 positions, which amounts to almost a quarter of all company employees.

2. Financial implications

- Expected severance and health‑insurance payouts could reach $15 million.

- The program will begin in Q2 2026 and conclude by its end.

3. Current context

- In 2024 GoPro already carried out two rounds of cuts but failed to exit losses.

- Profitability is targeted for the end of fiscal year 2025, yet the reporting period finished with a loss.

Why the cuts
- Intensified competition: growing market share of Chinese brands DJI and Insta360.

- Revenue decline: falling action‑camera sales in an oversaturated market.

GoPro aims to adapt its business by cutting costs and focusing on more profitable segments.

What next
- New models – GoPro plans to launch cameras with the GP3 processor, aimed at professional use.

- These devices will be showcased at NAB Expo by the end of the month, which should help the company regain footing in a competitive environment.

Thus, the company is taking steps toward reorganization while investing in new technologies and products to strengthen its presence in the action‑camera market.