05:53 PM EDT, 08/19/2024 (MT Newswires) -- GoPro ( GPRO ) said Monday its board approved a restructuring plan that's expected to reduce its workforce by about 15% and help it lower operating expenses by about $50 million in fiscal 2025.

The company expects the layoffs to start in Q3, with completion expected by the end of 2024, according to a regulatory filing.

GoPro ( GPRO ) said it expects the restructuring to result in a charge of $5 million to $7 million. The company expects to incur the majority of the restructuring and related charges in Q4.

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