GoPro to Lay Off 23% of its Workforce This Year

GoPro has announced plans to reduce its global workforce by approximately 23%, a move that comes as the company prepares for a widely anticipated new generation of cameras built around its upcoming GP3 processor.

‘Restructuring Plan’

According to a Form 8-K filing submitted to the U.S. Securities and Exchange Commission on April 7, 2026, the restructuring will affect roughly 145 employees out of a total headcount of 631 at the end of the first quarter. The layoffs are set to begin in the second quarter of 2026 and are expected to be largely completed by year’s end.

The company estimates the restructuring will result in charges between $11.5 million and $15 million, primarily tied to severance payments and healthcare benefits. These costs will be distributed throughout the remainder of 2026, with the largest portion expected in the third and fourth quarters.

“GoPro, Inc. (the ‘Company’) announced that the Board of Directors (the ‘Board’) of the Company approved a restructuring plan (the ‘Restructuring Plan’) in order to reduce operating costs and drive stronger operating leverage. The Restructuring Plan is anticipated to entail a global reduction in force of approximately 145 employees, representing approximately 23% of the Company’s ending first quarter headcount of 631 employees (the ‘Reduction in Force’). The Reduction in Force is being implemented in the second quarter of 2026 and is expected to be substantially completed by the end of 2026,” the filing states.

“The Restructuring Plan is expected to result in an estimated aggregate charge in the range of $11.5 million to $15 million. Cash expenditures will be approximately $1.5 million of the estimated aggregate charge in the second quarter of 2026, approximately $5.5 million to $8 million of the estimated aggregate charge in the third quarter of 2026, and approximately $4.5 million to $5.5 million of the estimated aggregated charge in the fourth quarter of 2026. These expenditures will consist of one-time termination benefits to the affected employees, including but not limited to severance payments and healthcare benefits. The estimates of the charges and expenditures that the Company expects to incur in connection with the Restructuring Plan, and the timing thereof, are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual amounts may differ materially from estimates.”

Cost-Cutting Efforts Amid Continued Financial Pressure

The latest round of layoffs follows previous workforce reductions in 2024 and comes after a challenging financial period. GoPro reported a year-end revenue decline in its 2025 financial results, including a $9 million loss in the fourth quarter. The company had previously aimed to return to profitability by the end of 2025, but fell short of that target.

The action camera maker has faced increasing competition in recent years from companies such as DJI and Insta360, as well as continued pressure from increasingly capable smartphone cameras. These competitive forces have reshaped the market that GoPro once dominated in the early 2000s.

In its filing, GoPro stated that the restructuring plan is intended to reduce operating costs and improve overall efficiency, positioning the company for stronger operating leverage moving forward.

GP3 Processor and a “New Era” of Cameras

Despite the workforce reductions, GoPro has signaled optimism about its product roadmap, particularly with the upcoming launch of devices powered by its new GP3 processor. The company describes GP3 as a 5-nanometer system on a chip designed to deliver improved AI-driven image quality and enhanced low-light performance compared to its GP2 predecessor.

“Our customers have made it clear they want more of everything from GoPro — larger sensors, world class low-light performance, higher resolutions and frame rates, next level image quality, improved audio capabilities, longer runtimes and bulletproof reliability in high heat conditions…everything, and more. And that’s exactly what we’re giving them with our newest line of GP3-powered cameras, debuting at NAB this April,” says GoPro’s founder and CEO, Nicholas Woodman.

GoPro has indicated that the GP3 platform will support a wide range of products, including action cameras, 360 cameras, vlogging tools, and what it describes as ultra-premium, compact cinema-grade cameras. While specific product details remain limited, the company has begun teasing the new system through a small set of still images released in early March, followed by short video clips showcasing its capabilities later in the month.

The first GP3-powered cameras are expected to launch in the coming months, with additional attention anticipated around industry events such as NAB Show.

Balancing Restructuring and Innovation

The timing of the layoffs highlights a transitional moment for GoPro, as it attempts to balance cost reductions with renewed investment in product innovation. While workforce cuts are not new for the company, the current restructuring stands out for its timing, coming close to a major product cycle that GoPro has positioned as a potential turning point.

Image credits: GoPro