GoPro board OKs additional $7 million to pay for layoffs

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GoPro Inc.












GPRO, -0.22%










said its board approved an additional $7 million in restructuring costs to pay for layoffs, according to a Securities and Exchange Commission filing late Tuesday. GoPro shares declined 0.6% to $8.85 after hours. The company said the additional funds are on top of the estimated $24 million to $33 million previously disclosed. Back in late November, the action-camera company said it was shedding 15% of its workforce. GoPro expects to account for most of the restructuring costs in the fourth quarter.


Source: marketwatch.com