GoPro to cut about 15 percent of workforce

[November 30, 2016]  (Reuters) - GoPro Inc said on Wednesday it would cut about 15 percent of its workforce as the company restructures its once fast-growing action camera business.

A GoPro device featuring 16 cameras, to be used with Google's "Jump," to provide viewers with 360-degree video, is shown during the Google I/O developers conference in San Francisco, California May 28, 2015. REUTERS/Robert Galbraith
 

GoPro said it will cut about 200 full-time positions, cancel open positions and shut down its entertainment division as part of the restructuring.

The company said it expects to incur about $24 million to $33 million in restructuring charges, mostly in its fourth quarter.

GoPro's shares were up 2.7 percent at $10.10 in premarket trading.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Sriraj Kalluvila)

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