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GoPro Slashes 15% of Workforce, Shuts Down Entertainment Division

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87615853 story Posted by msmash on Wednesday November 30, 2016 @09:15AM from the restructuring dept. GoPro has announced that it will lay off more than 200 employees and freeze hiring, amounting to a reduction of about 15% of its workforce. As part of the restructuring, the company is also shutting down its entertainment division. In addition, the company said president Tony Bates will be leaving the company. From a report on Variety: Also Wednesday, GoPro also said Black Friday camera unit sales were up more than 35% year-over-year at leading U.S. retailers. GoPro said its Hero5 Black camera has been the best-selling digital-imaging device in the U.S. since it launched Oct. 2, citing NPD Group data. GoPro shares climbed more than 4% in premarket trading Wednesday on the news. The move appears to spell the end of the struggling company's ambitions to branch out beyond device sales into the entertainment biz, which had included plans to produce original shows. The GoPro...(continued)
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