In an interview Monday, GoPro CEO Nick Woodman discussed the possibility of selling GoPro.
The company announced this morning it would reduce its workforce by another 20%, or more than 200 employees, as shares for the company plummeted 30%. The cuts are a result of axing its drone division, a decision Woodman chalks up to stricter regulatory laws on the product.
“Looking at that category, we determined it just wasn’t going to continue to be a sound business investment for us,” Woodman said.
This is the second round of layoffs in the past 9 months for GoPro — in March 2017, they cut 270 employees preemptively, preparing for lower than projected Q1 sales.
Today, the company has lowered guidance after weak holiday sales, but Woodman says he expects to see profitability in the last half of 2018.
When asked if the company would entertain being sold to a parent company to help with some of the backend operations, Woodman responded: “If there are opportunities for us to unite with a bigger parent company to scale GoPro even bigger, that is something that we would look at.”
He went on to say that for the time being, the company plans to stay autonomous, and must continue to operate that way. Part of the strategy moving forward is adjusting its pricing tier, which saw $100 knocked off the price of each of its cameras, including the new GoPro Hero 6.
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