After Losing Big on Karma Drone Double Down, What's Next for GoPro?
Stop me if you have heard this one before, GoPro's investment in drones isn't working out, so they are cutting jobs.
This time last year, the highly-anticipated Karma drone literally took a nosedive as mid-air malfunctions left 200 employees without a job. Just a few months later, after the Q1 earnings for 2017, 270 more jobs were cut running a total of 570 in only five months. Come August, and Q2 was not awful which, for a struggling company, was finally good news. They increased sales by 34-percent YoY and were "building momentum" according to founder and CEO Nicholas Woodman.
The Karma drone was slated to hit retail, the HERO5 Black overcame production woes, and a reshuffle of their entertainment divisions (read completely shut down) shifted the portfolio closer to the 2014 powerhouse of days past.