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Bad news continues for GoPro...
"On Wednesday, GoPro announced it would slash 15 percent of its workforce, or about 200 jobs, and shutter its entertainment division, in a restructuring that the company said will help it focus on its core camera products.
It’s been a long slide for Go Pro, whose triumphant 2014 IPO was the biggest public market debut in two decades for a consumer hardware company.
Despite its early success and endorsement deals with high-profile athletes like Olympic snowboarder Shaun White, GoPro’s stock has tumbled 44.6 percent this year. It reported an $84 million loss in its most recent quarterly earnings. And it suffered a big setback when it tried to diversify by creating its own drone — only to recall the product just before the critical holiday shopping season."
Full story - GoPro lays off 200 as it struggles to find footing
"On Wednesday, GoPro announced it would slash 15 percent of its workforce, or about 200 jobs, and shutter its entertainment division, in a restructuring that the company said will help it focus on its core camera products.
It’s been a long slide for Go Pro, whose triumphant 2014 IPO was the biggest public market debut in two decades for a consumer hardware company.
Despite its early success and endorsement deals with high-profile athletes like Olympic snowboarder Shaun White, GoPro’s stock has tumbled 44.6 percent this year. It reported an $84 million loss in its most recent quarterly earnings. And it suffered a big setback when it tried to diversify by creating its own drone — only to recall the product just before the critical holiday shopping season."
Full story - GoPro lays off 200 as it struggles to find footing