GoPro says it will restructure and cut over 20% of its global workforce by the end of 2026. The San Mateo-based company plans to lay off 145 employees, which is about 23% of its staff, according to a filing with the U.S. Securities and Exchange Commission. Layoffs are set to start in the second quarter of 2026, and we expect most of the process to be finished by the end of the year.
The restructuring reflects ongoing challenges for GoPro in a competitive market. The company posted a $9 million loss in the fourth quarter of 2025, with full-year revenue declining 19% to $652 million. GoPro’s board approved the plan on April 7, 2026, citing the need to “reduce operating costs and drive stronger operating leverage”.
Why is GoPro cutting jobs?
GoPro faces intense competition from rivals like DJI, Insta360, and increasingly capable smartphone cameras. The company once dominated the action camera space after launching its first product in the early 2000s, but market share has eroded over time. The layoffs follow two rounds of job cuts in 2024, including a 4% reduction in the first quarter and a 25% cut in the third quarter.
Key details of the restructuring:
- Total employees affected: 145
- Current total headcount: 631
- Estimated restructuring costs: $11.5 million to $15 million
- Costs include severance payments and healthcare benefits
- Cash expenditures spread across Q2, Q3, and Q4 2026
GoPro expects its restructuring to cost between $11.5 million and $15 million, primarily for one-time payments such as severance and healthcare. The company plans to record up to $8 million of these costs in the third quarter of 2026. So far this year, GoPro’s stock has dropped 48%, showing that investors are worried about the company’s profits.
Despite the downsizing, GoPro remains optimistic about new products powered by its upcoming GP3 processor. The company plans to launch its first GP3-powered cameras in the coming months, which it says will usher in a “new era of performance and innovation”. According to a report from Digital Camera World, GoPro is also expected to announce new cameras later this month that may go beyond traditional action cameras.
The company’s recent layoffs are part of a larger trend in the tech industry. The Times of India reports that over 52,000 tech jobs were cut in the first quarter of 2026, a 40% increase from last year, as companies look to lower expenses.
What This Means for GoPro
In conclusion, GoPro’s decision to cut over 20% of its workforce by the end of 2026 is a clear signal that the action camera pioneer is fighting to stay relevant in a market it once defined. Whether the company can successfully execute its turnaround strategy will depend on the reception of its new products and its ability to manage costs in a challenging environment.
