GoPro to Cut 23% of Its Workforce Ahead of GP3 Camera Launch at NAB

Industry News

by Nino LeitnerApril 11^th, 2026

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GoPro is eliminating 145 jobs, roughly 23% of its global workforce, as the action camera pioneer continues to struggle financially while betting its future on a new generation of GP3-powered cameras expected to debut at NAB Show later this month.

The layoffs were disclosed in a Form 8-K filing with the SEC, which states that GoPro’s board approved a restructuring plan to reduce operating costs and improve operating leverage. With a headcount of 631 employees at the end of Q1 2026, the cuts will begin during the current quarter and are expected to be substantially completed by year’s end. GoPro estimates the restructuring will cost between $11.5 million and $15 million, covering severance payments and healthcare benefits.

A pattern that keeps repeating

This is not the first time GoPro has turned to layoffs to shore up its finances, and it is not even the first time in recent memory. The company carried out two separate rounds of cuts in 2024 alone, first trimming 4% of its workforce in Q1, then a much deeper 25% reduction in Q3. At the end of 2024, GoPro had 696 employees. The current round brings the company down to roughly 486 people, a fraction of the organization it was just a few years ago.

The financial picture behind these cuts is sobering. GoPro had publicly aimed to return to profitability by the end of fiscal year 2025, but instead posted a full-year net loss of $93.5 million, with Q4 alone accounting for a $9.1 million loss (or 6 cents per share, as reported by the Wall Street Journal). Full-year revenue fell 19% to $652 million, and camera unit sales dropped to approximately 2 million, down from 2.5 million the prior year. During a March earnings call, CEO and founder Nicholas Woodman pointed to macroeconomic headwinds including tariff pressures, rising memory costs, and supply constraints as contributing factors.

Competition has fundamentally changed the market

The competitive landscape GoPro once dominated looks very different today. DJI and Insta360 have both expanded aggressively into action cameras, 360 cameras, and compact lifestyle devices, often matching or exceeding GoPro’s feature sets while undercutting on price. As we noted in our coverage of GoPro’s expanded product lineup last September, the company launched the MAX2 8K 360, LIT HERO, and Fluid Pro AI gimbal in an attempt to broaden its ecosystem, but these products arrived into a market where DJI and Insta360 were already competing fiercely against each other across multiple categories. Smartphone cameras continue to eat into the casual end of the market as well.

Woodman himself invested $2 million of his own money into the company last fall to help fund new product development, an unusual move that underscored both his personal conviction and the scale of GoPro’s financial challenges. The company’s stock has lost roughly 93% of its value over the past five years.

The GP3 gamble

Despite the cuts, GoPro remains publicly optimistic about its near-term product roadmap. The company is banking on its GP3 processor, a 5-nanometer system-on-a-chip with a dedicated AI neural processing unit, to power what it describes as a new era of cameras spanning action, 360, vlogging, and even “ultra-premium, compact cinema-grade” devices. GoPro has promised that the new cameras will be “more professionally focused than ever before.” The first GP3-powered devices are set to debut at NAB Show, starting next week. We will be at the show and are also scheduled to meet with GoPro.

It is a bold bet, and the timing of these layoffs, just weeks before a major product launch that the company has positioned as a potential turning point, highlights the tension at the heart of GoPro’s current strategy. The company is simultaneously shrinking its workforce and attempting to expand into new, higher-end product categories. Whether a leaner GoPro can execute on that ambition will likely determine whether these latest cuts are a painful but necessary step toward recovery, or simply another chapter in a long decline.

What do you think of GoPro’s chances with the GP3 lineup? Can a company that has been cutting staff for years still deliver a genuinely competitive new generation of cameras? Don’t hesitate to let us know in the comments below!