GoPro Slashes 23% of Workforce Following Financial Losses
GoPro is laying off 23% of its workforce after failing to reach profitability in 2025, amidst rising competition from DJI and Insta360.
Major Restructuring as Revenue Slumps
GoPro, the long-standing leader in the action camera market, has announced a significant reduction in its workforce as it attempts to steer the company back toward profitability. According to a recent Form 8-K filing, the California-based tech firm will lay off approximately 145 employees, representing 23 percent of its total staff of 631.
The restructuring is expected to be costly in the short term, with GoPro estimating between $10 million and $15 million in charges related to severance payments and healthcare benefits. The company plans to initiate the cuts during the second quarter of 2026, with the majority of the layoffs completed by the end of the calendar year.
A Difficult Path to Recovery
This latest round of downsizing follows two separate waves of layoffs in 2024. Despite these aggressive cost-cutting measures, GoPro has struggled to stabilize its financial position. While leadership had previously projected a return to profitability by the end of fiscal year 2025, the company instead concluded the year with a net loss.
The company plans to initiate the cuts during the second quarter of 2026, with the majority of the layoffs completed by the end of the calendar year.
Market analysts point to a tightening competitive landscape as a primary factor in GoPro's decline. While the brand once dominated the sector, it now faces stiff competition from rivals such as DJI and Insta360, which have aggressively captured market share in the action and 360-degree camera segments.
Looking Toward Professional Markets
GoPro is betting its future on a shift in product strategy. To counter its rivals, the company is moving away from purely consumer-grade hardware and focusing on professional-tier equipment.
At the upcoming NAB tradeshow, GoPro is expected to debut a new lineup of cameras. These devices will reportedly be powered by the highly anticipated GP3 processor—the first major update to the company's custom silicon in several years. Management has teased that this new hardware will be "more professionally focused than ever before," signaling a pivot toward high-end creators and broadcast professionals to drive revenue growth.
Whether these high-spec releases, including the recent GoPro Max2 launched in late 2025, can reverse the company's financial trajectory remains to be seen. for now, the internal focus remains on lean operations as the remaining 486 employees prepare for a pivotal 2026.