GoPro to slash 23% of workforce

The company expects to cut approximately 145 jobs as part of a significant cost-reduction strategy.

GoPro has struggled with increased competition and a shifting market for wearable technology.

The layoffs will result in severance charges between $11.5 million and $15 million.

CEO Nick Woodman stated that the move is necessary to align the organization with its future business goals and improve financial stability.