GoPro board approves restructuring plan, to cut 23% of staff

In a regulatory filing, the company stated: “On April 7, GoPro (GPRO) announced that the Board of Directors of the Company approved a restructuring plan in order to reduce operating costs and drive stronger operating leverage. The Restructuring Plan is anticipated to entail a global reduction in force of approximately 145 employees, representing approximately 23% of the Company’s ending first quarter headcount of 631 employees. The Reduction in Force is being implemented in the second quarter of 2026 and is expected to be substantially completed by the end of 2026. The Restructuring Plan is expected to result in an estimated aggregate charge in the range of $11.5 million to $15 million. Cash expenditures will be approximately $1.5 million of the estimated aggregate charge in the second quarter of 2026, approximately $5.5 million to $8 million of the estimated aggregate charge in the third quarter of 2026, and approximately $4.5 million to $5.5 million of the estimated aggregated charge in the fourth quarter of 2026. These expenditures will consist of one-time termination benefits to the affected employees, including but not limited to severance payments and healthcare benefits.”