GoPro is shedding more than 20 p.c of its group of workers, over 2 HUNDRED employees, in reaction to the COVID-19 pandemic, the company has announced. The move is a part of an attempt to scale back running expenses by $100 million the 12 months, on most sensible of any other $250 million in non-headcount similar cost discounts planned for 2021. GoPro introduced that its founder and CEO, Nicholas Woodman, will not be paid a salary for the remainder of the yr, and that the company will shift extra in opposition to a right away-to-consumer gross sales model going ahead.
The restructuring comes as GoPro has started to get better after its sick-fated transfer into the drone market. Released in past due 2016 after several delays, the GoPro Karma was a basic drone that didn’t galvanize, and GoPro ended up quitting the drone trade just over a year later. Closing year, there were signs the corporate had shaken off the ache of the move off the back of the good fortune of the Hero 7.
GoPro says it bought 700,000 cameras within the first quarter and expects its 2020 product and repair roadmap to be unaffected through operational cuts, consistent with Bloomberg.