GoPro to cut about 23% of global workforce ahead of GP3-powered camera generation launch

GoPro announced plans to cut about 23% of its global workforce, or roughly 145 employees out of 631 total as of the end of Q1 2026. The restructuring is set to take place as the company moves into a new product cycle built around its GP3-processor-based camera generation.

Layoffs timeline and restructuring goals

In a Form 8-K filed with the U.S. Securities and Exchange Commission on April 7, 2026, GoPro said the layoffs will begin in Q2 2026 and are expected to be completed by the end of the year. The company stated the restructuring is intended to reduce operating costs and improve operating efficiency.

Estimated restructuring costs

GoPro estimated the cost of the restructuring will range from $11.5 million to $15 million, equivalent to about VND 303.6 billion to 396 billion. The company said the majority of the cost relates to severance packages and healthcare benefits for affected employees.

• $1.5 million is expected to be recognized in Q2 2026
• Most of the remaining cost is expected to be concentrated in Q3 and Q4 2026

Context: financial pressure and market competition

The layoff announcement follows a period of financial difficulties. In its 2025 annual report, GoPro reported decreasing revenue, including a $9 million loss in Q4. The company previously targeted returning to profitability by the end of 2025, but it did not achieve that goal.

GoPro also faces intensifying competition from DJI and Insta360, alongside rapid advances in smartphone camera technology. These shifts have changed the action-camera market, which GoPro once dominated in the early 2000s.

GP3 platform and product expectations

Despite the restructuring, GoPro said it remains optimistic about the product roadmap. The company is preparing to launch a new generation of cameras powered by the GP3 processor, manufactured on a 5nm process.

GoPro said the GP3 chip is expected to improve image quality through AI and enhance low-light recording compared with GP2.

What users are asking for

CEO Nick Woodman said customers are demanding more from GoPro devices, including larger sensors, higher image quality, higher frame rates, improved sound, longer battery life, and greater durability in extreme temperatures. GoPro said these requirements will be addressed by the GP3-based product line.

Where the GP3 platform may be used

GoPro said the GP3 platform is expected to expand across a range of products, including action cameras, 360-degree cameras, Vlog devices, and compact cameras aimed at the premium segment. Initial products are expected to launch in the coming months, with NAB Show potentially in focus.

What the layoffs suggest

With layoffs scheduled ahead of the GP3-driven product rollout, GoPro appears to be balancing cost optimization with investment in technology innovation as it seeks to reposition in a more competitive market.