GoPro eliminates almost 300 jobs in third round of cuts since 2016

GoPro is reducing its workforce by about 270 employees, the company announced today, citing an effort to reduce operating costs by about $200 million for 2017. The new cuts include current employees as well as open positions, and it’s the third reduction to GoPro’s workforce since the beginning of 2016.

The camera company operated at a loss of $373 million in 2016, in part thanks to production delays on the new Hero 5 cameras and the recall of the Karma drone. GoPro’s stock price hit an all-time low this past week, though it was up more than 10 percent in after-hours trading following the news.

GoPro laid off 7 percent of its workforce in January of 2016, but the layoffs in November...

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