GoPro confirms layoffs, exit from drone business

Techcrunch -------- GoPro today released preliminary fourth quarter 2017 results which paints the company in struggling situation. The company says it 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. Pre-market trading of GoPro shares have halted on the news. The layoffs were expected. 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. To learn more click on the picture below to read the article.