GoPro will cut nearly a quarter of its workforce this year, the San Mateo action camera maker said Tuesday, as it looks to rein in costs while betting on a new generation of products to revive growth.
The company plans to lay off about 145 employees, roughly 23% of its staff, according to a filing with the U.S. Securities and Exchange Commission. The cuts are expected to begin in the second quarter and be largely completed by the end of 2026.
The cuts are part of a restructuring plan that aims “to reduce operating costs and drive stronger operating leverage,” the filing states.
The company is pinning its hopes on a new lineup of cameras powered by its GP3 processor, which it says will deliver improved image quality and performance. GoPro cameras were also recently used aboard NASA’s Artemis II mission, capturing imagery during the spacecraft’s trip around the Moon.
The restructuring is expected to cost between $11.5 million and $15 million, mostly for severance and health benefits. GoPro said it anticipates spending about $1.5 million in the current quarter, with the bulk of the costs coming later in the year.
The move marks the latest round of cuts for a company that once defined the action camera market but has struggled to keep pace with rising competition and shifting consumer habits.
Rivals such as DJI and Insta360 have chipped away at GoPro’s dominance, while smartphone cameras have become increasingly capable substitutes.
The company has been trimming expenses for years. In 2024, GoPro said it would cut about 15% of its workforce as part of a broader effort to stabilize its finances.
GoPro reported revenue of $652 million in 2025, down 19% from the prior year, and a net loss of $93 million, according to its March earnings release.