GoPro announced Wednesday that it was cutting 270 jobs to reduce its operating expenses and achieve profitability.
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GoPro is getting rid of 270 positions as it tries to become profitable again (GPRO)
The company estimated restructuring charges of up to $10 million, mostly related to severance cuts.
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It was the second time in three months that the camera maker announced layoffs.
The affected positions included full-time jobs and openings. The camera maker had 1,552 employees as of December 2016 according to its website.
GoPro shares jumped by as much as 12% in after-hours trading following the news.
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In a statement, the company said it estimated restructuring charges of up to $10 million, mostly related to severance costs. The layoffs would keep the company on track to achieve profitability this year, CEO Nicholas Woodman said.
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