GoPro has announced a workforce reduction that will see 270 jobs cut and the closure of open positions. In a statement made ahead of the release of GoPro's full Q1 2017 financial results, the action camera maker attributed the cuts to an aim of curtailing operating expenses by more than $200m (£163m) in 2017.
GoPro's total workforce was around 1552 as of December 2016, with this latest round of cuts being the US company's third workforce reduction since the start of the same year. It coincides with the announcement that GoPro is on track to hit the upper end of its first quarter revenue target to the tune of around $210m (£171m) and return to pre-tax profitability in 2017.
"We're determined that GoPro's financial performance match the strength of our products and brand. Importantly, expense reductions preserve our product roadmap and we are tracking to full-year non-GAAP profitability in 2017," said GoPro CEO, Nicholas Woodman.
The comprehensive job cull follows a particularly rocky year for the California-based company. In 2016, GoPro posted financial losses in all of its four quarters totaling a $373m loss for the year and the unceremonious closure of its entertainment division.
In what quickly become a public relations nightmare, GoPro was also forced to issue a widespread recall of its elite Karma drone after a swathe of owners uploaded videos of their new quadcopters falling out of the sky after losing power mid-flight.
Is GoPro on the rocks?
In November of the same year, GoPro announced 200 job losses, totaling 15% of its workforce, with then-company president also leaving the company after three years of service. This was in addition to a workforce reduction of 7% in January. GoPro has not revealed which company divisions will be impacted by the latest batch of cuts.
GoPro officially re-released its retooled Karma drone in the US on 1 February, with a retail price of $799.99 (£634), claiming that an issue "related to the latch mechanism which secured the drone's battery" had been fixed.
In spite of less-than-rosy financial results, GoPro's flagship Hero 5 range continues to dominate the action camera market, with the recently released Hero 5 Black and Hero 5 Session driving 2 million GoPro camera sales in Q4 2016.