Downsizing of employees in the action camera production company, 140 people are at risk of losing their jobs!

Downsizing: American action camera maker GoPro is set to lay off employees in a big way. At least 140 employees will lose their jobs as a result of the move. According to the company's filing with stock exchanges, GoPro plans to cut operating expenses by about $50 million from the estimated cost for the 2024-25 fiscal year. For this, the restructuring plan has been approved by the board of the company. GoPro is set to lay off employees for the second time in 2024. This is the second time the US camera maker will lay off employees in 2024, according to a report by the Financial Conduct Authority. Earlier, GoPro had cut 4 percent of its total workforce by March 2024. Along with this, the company has also reduced its office premises in other countries of the world. The restructuring plan left 140 employees out of work, the company said in a filing to the stock exchanges, with the number of permanent employees reduced to 925 by the end of the second quarter of the 2024-25 fiscal year. After the restructuring plan is implemented, the number of employees is expected to decrease by about 15 percent by the beginning of the third quarter of the financial year 2024-25. The document also said that these layoffs are expected to take place by the end of the 2024 calendar year. Around 140 employees will lose their jobs after the company's restructuring plan is implemented. Who founded GoPro? GoPro Inc., an American technology company that manufactures action cameras, was founded in 2002. It was started by Nick Woodman. GoPro Inc. Manufactures action cameras. Along with this, it also develops its own mobile app and video editing software. Founded as Woodman Labs Inc., the company is located in San Mateo, California, USA. Also Read: Bet It's Hard To Get Out of Law's Grip, Big Cut in Tech Jobs to Start in 2024 Prior to this, jobs in the sector were also cut in 2022 and 2023. Last week, Cisco announced that it was laying off thousands of people worldwide. Apart from this, Intel also announced that it will cut about 15,000 jobs. Also Read: Mars Up In Stocks, Sensex Up 302 Points In Early Trade The post Action Camera Manufacturing Company Layoffs, 140 Will Lose Their Jobs appeared first on Prabhat Khabar.