SAN MATEO, Calif. (BRAIN) — GoPro's restructuring plan will reduce its global workforce by 23%.
The company announced the plan Tuesday in an SEC filing. At the end of the first quarter, the action camera brand had 631 employees, so about 145 will be laid off by the end of the year. According to the filing, the restructuring plan is expected to cost about $11.5 million to $15 million.
Also according to the filing, cash expenditures will be about $1.5 million of the estimated aggregate charge in the second quarter, about $5.5 million to $8 million in the third quarter, and about $4.5 million to $5.5 million in the fourth quarter. The expenditures will consist of one-time termination benefits to the affected employees, including severance payments and healthcare benefits.
In its March fourth-quarter earnings report, GoPro reported a slight revenue increase in the quarter year-over-year but a 19% decline for the year. For 2025, revenue was reported at $652 million, compared with $801 million in 2024. Sell-through for the fourth quarter was about 625,000 units, down 19%. For the year, it was down 20% with about two million units.
