GoPro has announced a company-wide restructuring to reduce operating expenses, which will include the closure of its entertainment division.
The restructuring will also see the reduction of GoPro facilities, the elimination of more than 200 full-time positions, and the cancellation of open positions for a workforce reduction of approximately 15%.
Additionally, Tony Bates will leave his position as president of GoPro at the end of the year.
“My time at GoPro has been an incredible experience,” said Bates.
“In the past three years, GoPro has seen enormous progress in camera technology, software, and international growth. Today, GoPro has a solid leadership team deeply focussed on its core business and profitability.”