On August 19, GoPro Board Approves Restructuring Plan To Entail Reduction In Force Of ~15% From Ending Q2 Headcount Of 925 Full-time Employees Beginning In Q3 2024
Portfolio Pulse from Benzinga Newsdesk
GoPro, Inc. has announced a restructuring plan to reduce its workforce by 15% starting in Q3 2024, aiming to cut operating expenses by $50 million for fiscal 2025. The plan will incur charges between $5 million and $7 million, with most costs in Q4 2024.
August 19, 2024 | 9:37 pm
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GoPro's restructuring plan involves a 15% workforce reduction and aims to cut $50 million in operating expenses for fiscal 2025. The plan will incur charges of $5M-$7M, with most costs in Q4 2024.
The restructuring plan is a significant move to improve GoPro's financial health by reducing expenses. The market may view this positively as a cost-saving measure, potentially boosting investor confidence and stock price in the short term.
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