GoPro will cut 23% of its workforce under a fresh restructuring plan.
The move comes amid falling revenues, rising losses and intensifying competition from action camera rivals and smartphones.
GoPro expects $11.5-15 million in restructuring costs while banking on new product launches for a turnaround.
GoPro to Cut 23% of Workforce in Fresh Restructuring Push as Losses, Competition Mount
The move comes after the company missed its own profitability targets. GoPro had projected a return to profit by the end of FY2025, but instead reported a fourth-quarter net loss of $9.1 million amid declining revenue
GoPro to Cut 23% of Workforce in Fresh Restructuring Push as Losses, Competition Mount AI-generated Image
Summary
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Action camera maker GoPro has announced plans to lay off nearly a quarter of its global workforce as part of a restructuring effort aimed at cutting costs and returning the company to profitability.
In a filing with the US Securities and Exchange Commission, GoPro said it would reduce its headcount by 23%, affecting 145 of its 631 employees. The layoffs are expected to begin in the second quarter of 2026 and are likely to be completed before the end of the year.
The restructuring plan was approved by GoPro's board of directors on April 7, 2026, and is estimated to cost between $11.5 million and $15 million, covering severance payments and healthcare benefits for affected staff.
The move comes after the company missed its own profitability targets. GoPro had projected a return to profit by the end of FY2025, but instead reported a fourth-quarter net loss of $9.1 million amid declining revenue. CEO and founder Nicholas Woodman had previously attributed the company's struggles to "macroeconomic pressures", citing supply chain disruptions, rising memory prices, and the impact of tariffs.
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This is not the first time GoPro has turned to layoffs to manage costs. The company cut approximately 4% of its workforce in the first quarter of 2024, followed by a sharper 25% reduction in the third quarter of the same year. The latest round marks the third significant headcount reduction in just over two years.
GoPro also faces an increasingly competitive landscape, with rivals DJI and Insta360 eating into its market share in the action camera segment, a space the company once dominated.
The announcement places GoPro among a growing list of US companies that have undertaken large-scale job cuts in recent months. Oracle laid off over 30,000 workers as part of a global restructuring, Microsoft cut around 15,000 employees last year despite ramping up investment in AI and cloud infrastructure. More recently, payments company Block announced the elimination of 4,000 of its 10,000 roles.
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