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GoPro Lays Off Workers And Exits Drone Business

Gopro-karma-drone

TechCrunch reported that GoPro, the mobile digital camera maker:

"... plans to reduce its headcount in 2018 from 1,254 employees to fewer than 1,000. It also plans to exit the drone market and reduce CEO 2018 compensation to $1... Last week TechCrunch reported exclusively on the firings with sources telling us several hundred employees were relieved of duties though officially kept on the books until the middle of February. We were told that the bulk of the layoffs happened in the engineering department of the Karma drone... Though GoPro is clearly done producing the Karma drone, it says it intends to continue to provide service and support to Karma customers."

Reported, the earnings announcement by GoPro expected fourth quarter revenues of $340 million, down 37% from 2016. At press time, the "Shop Now" button for Karma drones was still active. It seems the company is selling off its remaining drone inventory.

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