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GoPro To Exit Drone Business, Cut 300 Jobs After Disappointing Q4 2017 Results

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toratora
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GoPro To Exit Drone Business, Cut 300 Jobs After Disappointing Q4 2017 Results

Post by toratora » Wed Jan 10, 2018 9:39 am

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https://beebom.com/gopro-exit-drone-bus ... -300-jobs/
Kishalaya Kundu wrote:January 9, 2018

We knew GoPro was struggling as it announced it would lay off some employees in the drone division. But the news has turned worse for the company after it announced Q4 2017 results. It shows a “negative impact” of $80 million mostly on account of price reductions on the HERO6 Black, HERO5 Black and HERO5 Session cameras, as well as the Karma drone.

Now, in an attempt to get its accounts in order and reduce operating expenses significantly this year, the company says it is cutting around 300 jobs and exiting the low-yield drone business once existing Karma stock is cleared.
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