REUTERS/Mike Segar
- GoPro on Monday announced a big restructuring plan that’s part of its effort to become profitable this year.
- The action-camera maker said it will lay off more than 250 workers worldwide, exit the drone business, and reduce CEO Nicholas Woodman’s 2018 cash pay to $1.
- The company also lowered its fourth-quarter revenue forecast.
GoPro is cutting more than 250 jobs and leaving the drone industry in an attempt to return to profitability by the second half of this year.
In its preliminary fourth-quarter results released on Monday, the maker of action cameras said it is reducing its global workforce from 1,254 employees to fewer than 1,000.
The news sent its shares down 23% in early trading.
Demand…
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