Action Camera Maker GoPro Lays Off 23 Percent of Workforce to Cut Costs

Camera maker GoPro announced a 145-person layoff, roughly 23 percent of its global headcount, on April 7, as part of a company-wide restructuring plan to cut operating costs and increase operating leverage.

The layoffs will begin this quarter and are expected to finish by the end of 2026.

The San Mateo-based company said one-time termination benefits to laid-off employees will cost it $11.5 million to $15.5 million—around $1.5 million in the second quarter, $5.5 million to $8.5 million in the third quarter, and $4.5 million to $5.5 million in the third quarter.

GoPro stock closed at $0.74 following the announcement, a 3.9 percent drop from the previous day. Its stock has fallen almost 94 percent in the past five years from $12.27.

This restructuring follows the release of the camera-maker’s Q4 2025 earnings on March 5. The company had nearly flat year-over-year revenue but was able to cut its operating expenses by around 31 percent.

Still, its full-year revenue declined 21.5 percent, and the company has recorded a negative EBITDA for the past three years. GoPro CFO and COO Brian McGee said the company absorbed $20 million in tariff expenses in 2025.

The major workforce cut by GoPro is its first since August 2024, when it cut 139 jobs, around 15 percent of its workforce then.

GoPro plans to debut a new generation of cameras at the 2026 National Association of Broadcasters Show this month, and last month released GP3, an AI-enabled image processor.

“GP3’s bleeding-edge, cinema-grade performance will enable GoPro to enter the ultra-premium end of the imaging market this year, serving the needs of a new, higher-end market segment that can grow GoPro’s business and brand,” GoPro founder and CEO Nicholas Woodman said. “GoPro is entering a new era of performance and innovation that we believe will expand our TAM and strengthen our financial performance.”

TAM stands for total addressable market.

GoPro supplied cameras for the Artemis II moon mission that began on April 1.

“Modified GoPro cameras are mounted externally on the Orion spacecraft’s solar array wings, where they will capture stunning views of the spacecraft, Earth, and the moon,” the company said in an April 2 statement.

The Artemis crew is also equipped with GoPro cameras “to document daily life on the mission from inside the spacecraft,” the statement said.

GoPro, founded in 2002, made wearable cameras that were a hit among surfers, snowboarders, and skydivers, and the emergence of YouTube gave the company a huge boost as users uploaded viral footage of daring feats. Its stock went public in June 2014 at $24 per share.

It climbed to $93.85 at its peak in October 2014.

Reuters contributed to this report.