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GoPro confirms layoffs, exit from drone business



GoPro today released preliminary fourth quarter 2017 results which paints the company in struggling situation. The company says it plans to reduce its headcount in 2018 from 1,254 employees to fewer than 1,000. It also plans to exit the drone market and reduce CEO 2018 compensation to $1.

Pre-market trading of GoPro shares have halted on the news.

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