GoPro filed an 8-K with the SEC on April 7, 2026, disclosing a board-approved restructuring plan that will eliminate approximately 145 positions. That is roughly 23% of the company's Q1 ending headcount of 631 employees. CFO Brian Tratt signed the filing. The reduction in force will be implemented during Q2 2026 and is expected to be substantially complete by the end of the calendar year. GoPro estimates the restructuring charge will range from $11.5 million to $15 million, consisting primarily of severance and employee benefit costs.
This is GoPro's fourth round of layoffs in roughly two years. The company cut 4% of staff in March 2024, then 15% in August 2024, then expanded that to 26% by the end of 2024. Now another 23% in April 2026. The headcount trajectory tells the full story: GoPro had approximately 1,600 employees in 2022. It is now down to 631, and after this round will have roughly 486. The company has cut nearly 70% of its workforce in under four years.
The underlying problem is competitive. DJI and Insta360 have undercut GoPro on both price and innovation in the action camera market. Direct-to-consumer sales through GoPro.com have declined as customers shift to third-party retailers where margins are thinner. The subscription model that was supposed to stabilize revenue has not offset hardware sales erosion. Each round of cuts is framed as a path to profitability, but the company keeps needing to cut again because the revenue base keeps shrinking. At some point, restructuring a company down to nothing is just a slow wind-down with better optics.