Struggling action camera maker GoPro will lay off roughly 25% of its workforce as part of a cost-cutting restructuring plan approved by its board earlier this week.

In a filing with the U.S. Securities and Exchange Commission, the company said it plans to eliminate about 145 jobs globally, representing approximately 23% of its 631 employees as of the end of the first quarter. The layoffs are expected to be largely completed by the end of 2026, with most occurring during the second quarter.

GoPro said the restructuring, approved on April 7, is aimed at reducing operating costs and improving efficiency. The plan is expected to cost between $11.5 million and $15 million, primarily covering one-time expenses such as severance and healthcare benefits for affected employees.

The job cuts follow a period of declining sales and mounting competitive pressure. In November 2025, the company reported a nearly 37% year-over-year drop in revenue. GoPro had previously forecast a return to growth and profitability by late 2025 and into 2026, but ultimately posted a loss for the year.

Chief executive Nicolas Woodman (seen above)  had earlier pointed to new product launches—including the MAX2 360 camera, LIT HERO camera and Fluid Pro AI gimbal—as part of a strategy to expand the company’s market and restore profitability. However, those efforts have yet to reverse its financial performance.

Founded in the early 2000s, GoPro has faced increasing competition in recent years from rivals such as DJI and Insta360, particularly in the action and 360-degree camera segments. The company has also conducted multiple rounds of layoffs, including two in 2024, as it sought to streamline operations.

Observers claim that this is a “brutal time to be laid off”

Another person wrote “This is 100% on Nick Woodman. He should have been laid off years ago.”

Another added, “Might be a good move for them, everyone laying off, thousands of employees, they just following the trend. For investors it sounds appealing.”

Despite the latest cuts, GoPro said it is continuing to invest in new products, with upcoming cameras powered by its GP3 processor expected to debut at the NAB trade show. The company said these devices will be more focused on professional users as it seeks to regain momentum in a crowded market.