GoPro to cut about 15% of its workforce

GoPro will cut approximately 15% of its workforce as part of a previously announced plan to reduce operating expenses by about $50 million from projected fiscal 2024 expenses.

The company said on Monday that the board approved the restructuring plan and that the cuts to its workforce, which stood at 925 full-time employees at the end of the second quarter, will begin in the third quarter. The jobs cuts are expected to be substantially completed by the end of the year.