GoPro announces more job cuts, plans return to profitability in 2017
GoPro has announced it will cut 270 more jobs in a bid to return to profitability in 2017. Using a combination of layoffs and a hiring freeze, the action camera maker said it can cut enough costs to maintain its profitability. GoPro announced the latest restructure on its website and said it estimates the move will help the company generate between $190 and $210 million in revenue in Q1 2017. The announcement follows a previous round of layoffs announced last year. The company has struggled after power failures forced it to recall its much anticipated Karma drone, as well as price cuts to the Hero4. GoPro says the layoffs will not affect its product schedule.