GoPro is implementing some restructuring moves, including shuttering its entertainment division and laying off more than 200 employees — about 15% of its work force. Variety reports that company President Tony Bates will also be leaving the firm.
The company announced the moves Wednesday.
“GoPro also said Black Friday camera unit sales were up more than 35% year-over-year at leading U.S. retailers,” Variety notes. “GoPro said its Hero5 Black camera has been the best-selling digital-imaging device in the U.S. since it launched Oct. 2, citing NPD Group data.”
Variety adds: “The move appears to spell the end of the struggling company’s ambitions to branch out beyond device sales into the entertainment biz, which had included plans to produce original shows.”