05:48 PM EDT, 03/26/2024 (MT Newswires) -- GoPro ( GPRO ) said late Tuesday it plans to cut about 4% of its global workforce to reduce operating costs.

The company expects the business restructuring to lead to costs of about $7.5 million, according to a filing with the US Securities and Exchange Commission.

GoPro ( GPRO ) projects cash expenditures at $2 million of the estimated costs in Q1 due to a reduction in force, with the remaining due to planned reductions of office space, it said.

The company's shares were up more than 1% in after-hours activity.

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