GoPro Intends To Reduce Its Global Workforce By Approximately 4% In Order To Reduce Operating Costs And Drive Operating Leverage - Filing

Author: Benzinga Newsdesk | March 26, 2024 05:16pm

The restructuring of the Company’s business will result in estimated aggregate costs of approximately $7.5 million. Cash expenditures will be approximately $2.0 million of the estimated aggregate costs in the first quarter of 2024 as a result of a reduction in force. The remaining expenditures primarily pertain to planned reductions of office space. The Company estimates impairment charges of approximately $3.3 million in the first quarter of 2024 related to the reduction in office space. The Company anticipates approximately $2.2 million of the office space charges through January 2027. The Company anticipates that a substantial portion of these restructuring charges will be reflected in its GAAP results for the first quarter of the fiscal year ended December 31, 2024.

Posted In: GPRO