GoPro will cut 23 percent of its global workforce by the end of this year, as the action camera pioneer looks to reverse its fortunes in a competitive market.

145 employees will be laid off, with the restructuring process commencing in the second quarter of 2026, the San Mateo company said in a Form 8-K filing. At the end of the first quarter, GoPro’s total number of employees stood at 631, and it expects the cuts to cost it between $11.5 million and $15 million. These charges include honoring severance packages and healthcare benefits.

GoPro’s last reported round of