Action camera company GoPro is set to lay off 23% of its workforce as a result of a new restructuring plan, reports Bicycle Retailer and Industry News.
The company, whose miniature video cameras were one of the first to help riders capture on-bike footage, currently employs 631 people, and the impending lay-offs will affect around 145 of them.
According to a new SEC (Securities and Exchange Commission) filing, the restructure is designed to reduce operating costs and will cost between $11.5 million and $15 million. This will include termination benefits for those affected by the lay-offs, including severance payments and healthcare benefits.
According to the filing, those costs will be spread throughout 2026: "Cash expenditures will be approximately $1.5 million of the estimated aggregate charge in the second quarter of 2026, approximately $5.5 million to $8 million of the estimated aggregate charge in the third quarter of 2026, and approximately $4.5 million to $5.5 million of the estimated aggregated charge in the fourth quarter of 2026."
The company is competing in a market that now includes newer but now major players such as Insta360 and DJI, and is no longer the only serious choice for those wanting to record their rides and post web content. Their latest product to launch was the GoPro Max in late 2025.
GoPro, which is based in San Mateo, California, recently announced a 19% year-on-year drop in profits for 2025, despite a slight increase in the final quarter from $200.8 million to $201.6 yoy.
That report, issued last month, also saw the company announce that it would be speccing several new cameras with its new AI-powered GP3 processor in 2026.
It said: "GP3 enables a more premium camera lineup with category-leading image quality and processing performance, positioning GoPro to compete at even higher tiers of the digital imaging market while fortifying a leadership position in our existing product categories. With our first GP3-powered cameras launching in Q2 2026, GoPro is entering a new era of performance and innovation that we believe will expand our (total addressable market) and strengthen our financial performance."
This is not the first round of lay-offs Go Pro staff have experienced. The company used to employ 1,600 people, and there have been two rounds of redundancies in the past four years, with 139 staff laid off in 2024 and 270 in 2022.
