GoPro announces layoffs as action camera sales dwindleJanuary 15, 2016 - 11:57 AMT PanARMENIAN.Net - Interest in GoPro's action cameras appears to be dwindling, as sliding revenue has forced the company into staff layoffs, Digital Spy reports. The firm shed 7% of its workforce after downgrading its revenue forecast for the fourth quarter of 2015 from around $550 million to $435 million. This would represent year-on-year decline of around 30% and fall short of the $690 million analysts were expecting. GoPro blamed the cuts on "lower than anticipated sales" of its action cameras - but the fact it hasn't released a flagship product since the Hero 4 Black and Hero 4 Silver in October 2014 may have played a part. Although the layoffs are expected to cost GoPro between $5 and $10 million in severance pay, the firm hopes that the move will "better align resources to key growth initiatives" in the long run. GoPro is branching out into product categories beyond the action camera, including virtual reality hardware and quadcopters, as part of its efforts to stimulate growth. Photo: GoPro Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Lemkin Institute petition seeks release of Armenians in Azerbaijan The Lemkin Institute is deeply concerned about the continued illegal detention of political prisoners from Karabakh in Azerbaijan. Armenian Catholicos calls for national unity against threats Karekin II issued a message on Republic Day marking the anniversary of the First Armenian Republic. Pashinyan: Armenia’s desired goal is “on the horizon” Prime Minister Nikol Pashinyan has said that Armenia is moving forward “without interruption”. Opposition leader, supporters spend night at Sardarapat memorial Police made nearly 300 arrests the day before as Galstanyan and his supporters continued to demonstrate in Yerevan. |