GoPro is planning layoffs following lower than expected sales of its signature action cameras.
The company announced Wednesday that it will cut its headcount by 7 percent. That represents about 105 of its more than 1,500 employees.
GoPro also said that Zander Lurie, who has served as senior vp entertainment since November 2014, has resigned. Lurie was hired to build upon the company’s media ambitions, leading the efforts to license videos shot on its cameras.
Prior to joining GoPro, Lurie served as executive vice president of Guggenheim Digital Media, the previous owner of The Hollywood Reporter. He also led strategic planning at CBS Corp.
GoPro has released preliminary fourth quarter financial results that show expected revenue of $435 million, lower than anticipated due to the slow sale of its portable cameras. The company will release full year-end and fourth quarter financial results on Feb. 3.
GoPro shares were down more than 24 percent, or about $3.50, during after-hours trading on the Nasdaq.
