{"id":45368,"date":"2026-04-09T03:55:08","date_gmt":"2026-04-09T03:55:08","guid":{"rendered":"https:\/\/foreignnewstoday.com\/?p=45368"},"modified":"2026-04-09T03:55:08","modified_gmt":"2026-04-09T03:55:08","slug":"bay-area-based-tech-company-announces-shocking-layoff-of-nearly-a-quarter-of-its-workforce","status":"publish","type":"post","link":"https:\/\/foreignnewstoday.com\/?p=45368","title":{"rendered":"Bay Area-based tech company announces shocking layoff of nearly a quarter of its workforce"},"content":{"rendered":"<p><br \/>\n<br \/><\/p>\n<div>\n<p>More pain for the Bay Area tech sector as another company announces layoffs \u2014 this time a staggering 23% of the workforce.<\/p>\n<p>The San Mateo action-based camera maker GoPro will let <a href=\"https:\/\/nypost.com\/2025\/07\/23\/business\/krispy-kreme-gopro-and-beyond-meat-shares-soar-in-meme-stock-revival\/\">nearly a quarter of its workforce<\/a> around the world go by the second quarter of 2026, according to a filing with the <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1500435\/000162828026024066\/gpro-20260407.htm\">Securities and Exchange commission<\/a>.<\/p>\n<p>The company, which first launched its camera line in the early 2000s, plans to cut some 145 jobs globally, representing 23% of the company\u2019s ending first quarter head count of 631 employees, per the filing.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>The San Mateo-based action camera company GoPro is slashing jobs. <span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>The cuts are expected to be completed by the end of the year, the filing read.<\/p>\n<p>The move comes after GoPro\u2019s Board of Directors approved a restructuring plan on April 7 to \u201creduce operating costs and drive stronger operating leverage.\u201d<\/p>\n<aside class=\"single__inline-module aligncenter wp-block-nypost-editor-primary-tag\">\n<\/aside>\n<p>\u201cRestructuring Plan is expected to cost the tech company between $11.5 million and $15 million. The costs include one time benefits payouts to those \u201caffected employees, including but not limited to severance payments and healthcare benefits,\u201d the filing noted.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>The cuts are expected to effect some 145 jobs globally. <span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>An article in November 2025, noted that <a href=\"https:\/\/www.bicycleretailer.com\/industry-news\/2025\/11\/07\/retail-and-online-sales-dip-overall-gopro-revenue-declines-37-year-over\">GoPro sales<\/a> had declined by nearly 37% year over year.<\/p>\n<p>Despite the drop, CEO Nicolas Woodman put a positive spin on the way things stood at the time.<\/p>\n<p>\u201cQ3 marked a meaningful step forward in our strategy to diversify, grow, and restore profitability to GoPro\u2019s business,\u201d <a href=\"https:\/\/investor.gopro.com\/press-releases\/press-release-details\/2025\/GoPro-Announces-Third-Quarter-Results\/default.aspx\">Woodman said<\/a>. \u201cWe successfully launched three new TAM-expanding hardware products \u2014 our MAX2 360 camera, LIT HERO camera and Fluid Pro AI gimbal \u2014 alongside several new software offerings. We expect to return to revenue growth and profitability beginning Q4 2025 and in 2026.\u201d<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>The cuts are expected to slash nearly a quarter of the company\u2019s workforce. <span class=\"credit\">Getty Images\/iStockphoto<\/span><\/figcaption><\/figure>\n<p>Several people commented on a <a href=\"https:\/\/www.reddit.com\/r\/gopro\/comments\/1sfsuuq\/gopro_laying_off_another_23_of_workforce\/\">Reddit Post <\/a>about the job cuts.<\/p>\n<p>\u201cAnother round of layoffs (not to be confused with the previous layoffs, this is new). This is a brutal time to be laid off, I hope they land on their feet,\u201d one person wrote. \u201cThis is 100% on Nick Woodman. He should have been laid off years ago.\u201d<\/p>\n<p>Another added, \u201cMight be a good move for them, everyone laying off, thousands of employees, they just following the trend. For investors it sounds appealing.\u201d<\/p>\n<p>\u201cSalaries cut off, new cameras + new processor at NBA Show -&gt; Their stock will probably jump a lot on the next few weeks. So with this changes + new revenue if the launch is a success, might\u00a0 actually save them as a company.\u201d<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>A November 2025 report said sales were down year over year. <span class=\"credit\">Vladimir Razgulyaev \u2013 stock.adobe.com<\/span><\/figcaption><\/figure>\n<p>On Tuesday, it was <a href=\"https:\/\/nypost.com\/2026\/04\/08\/business\/oracle-axes-over-700-workers-the-first-wave-in-a-bloodbath-that-could-engulf-thousands-across-california\/\">announced that some 700 workers<\/a> at another Bay Area tech company, Oracle, would be out of work by June statewide.\u00a0<\/p>\n<p>The statewide tally along with another nearly 500 firings in Seattle, is part of the software maker\u2019s <a href=\"https:\/\/nypost.com\/2026\/03\/31\/us-news\/major-tech-employer-oracle-announces-layoffs\/\">recently announced bloodbath<\/a> that is reportedly in the thousands of jobs.<\/p>\n<p>Last month, a 6 a.m. <a href=\"https:\/\/nypost.com\/2026\/03\/31\/us-news\/major-tech-employer-oracle-announces-layoffs\/\">email message was sent<\/a> out to workers notifying fired employees that they were out.\u00a0<\/p>\n<p>The message from one of the world\u2019s largest software companies, chaired by <a href=\"https:\/\/nypost.com\/2025\/12\/11\/business\/oracle-stock-plunges-12-on-ai-jitters-larry-ellisons-net-worth-down-34b\/\">billionaire Larry Ellison<\/a>, informed \u201cthousands\u201d of workers across the globe that March 31 would be their last day.<\/p>\n<p>Two people familiar with the matter confirmed to <a href=\"https:\/\/www.cnbc.com\/2026\/03\/31\/oracle-layoffs-ai-spending.html\">CNBC<\/a> that the layoffs involved thousands of jobs.<\/p>\n<figure class=\"nyp-slideshow-modal-image wp-block-image aligncenter size-large\"><figcaption>It\u2019s the latest Bay Area tech company to gut its workforce globally. <span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>Oracle told The California Post that it would decline comment when asked about how many jobs were being cut.<\/p>\n<p>As of May 2025, the software company employed around 162,0000 full-time employees, according to its annual filing with the Securities and Exchange Commission.<\/p>\n<p>The California Post reached out to GoPro for further comment.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/nypost.com\/2026\/04\/08\/us-news\/bay-area-based-tech-company-announces-shocking-layoff-of-nearly-a-quarter-of-its-workforce\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>More pain for the Bay Area tech sector as another company announces layoffs \u2014 this time a staggering 23% of the workforce. The San Mateo action-based&hellip;<\/p>\n","protected":false},"author":1,"featured_media":45369,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[40],"tags":[],"class_list":["post-45368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts\/45368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=45368"}],"version-history":[{"count":0,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts\/45368\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/media\/45369"}],"wp:attachment":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}