LONDON (ShareCast) - (ShareCast News) - US tech company GoPro Inc is set to lay off 15% of its workforce as it shuts down its entertainment division in a restructuring of its action camera business.
About 200 full-time positions will be lost as part of the restructuring programme, and the company said it would face between $24m and $33m in charges, which would come into effect in the fourth quarter of this year.

Earlier this month, GoPro announced the recall of thousands of its Karma drone devices, after there were reports of it losing power whilst in the air.

Sales of its flagship video cameras have stalled as consumers look to cheaper alternatives to the gadget, leading to a 40% slump in revenue for the third quarter of this year.

Shares in GoPro were up 3.51% on Wednesday after the news.

"Looking forward to 2017, we expect to return to profitability, driven by the strength of our new products," the company said after releasing its earnings report earlier this month.

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