GoPro fires 15% of its employees to reduce operating costs - Details

GoPro is going to fire 15% of its total employees in a bid to save on operating costs. Here’s what you need to know.

GoPro is known for making reliable action cameras. (GoPro)

GoPro, the popular action camera manufacturer, is laying off approximately 15% of its workforce in an effort to reduce operational expenses. This reduction, which affects about 140 employees, is expected to help the company cut operational costs by around $50 million in 2024, according to an SEC filing.

GoPro Layoffs to Be Completed by End of This Year

Around 140 employees across various roles will be terminated by the end of 2024. The layoffs, starting in Q3, are reportedly in line with the company's plans announced during its Q2 earnings call, where it revealed its decision to reduce expenses.

Tech Layoffs So Far in 2024

Tech layoffs are nothing new—we've seen companies like Google, Meta, Amazon, and Microsoft restructure and rethink their strategies in the post-COVID-19 era, which led to over-hiring for some.

Here are some of the major job cuts in the tech sector so far in 2024:

• Intel: 15% reduction in total workforce—affecting approximately 15,000 employees.
• Cisco: 7% workforce reduction, impacting 5,900 employees (according to Layoffs.fyi).
• Salesforce: 300 jobs cut.
• Koo: company ceasing operations.
• Google: laid off undisclosed number of employees in April, 2024.
• Tesla: 10% of the workforce laid off.
• Microsoft: hundreds of employees affected in the Azure cloud division (according to TechCrunch).

In 2024, around 60,000 individuals have lost their jobs across 254 companies, as reported by TechCrunch (via Layoffs.fyi). This ongoing wave of tech layoffs, which initially emerged towards the end of 2022, continues to impact workers and remains a significant concern for teams worldwide. Notably, even Apple was not immune to this trend, as it reportedly had to lay off approximately 600 employees working on its car project and the now-defunct micro LED Apple Watch project.