The San Mateo action-based camera maker GoPro will let nearly a quarter of its workforce around the world go by the second quarter of 2026, according to a filing with the Securities and Exchange commission.

The company, which first launched its camera line in the early 2000s, plans to cut some 145 jobs globally, representing 23% of the company’s ending first quarter head count of 631 employees, per the filing.

The San Mateo-based action camera company GoPro is slashing jobs. Getty Images

The cuts are expected to be completed by the end of the year, the filing read.

The move comes after GoPro’s Board of Directors approved a restructuring plan on April 7 to “reduce operating costs and drive stronger operating leverage.”

“Restructuring Plan is expected to cost the tech company between $11.5 million and $15 million. The costs include one time benefits payouts to those “affected employees, including but not limited to severance payments and healthcare benefits,” the filing noted.

The cuts are expected to effect some 145 jobs globally. Bloomberg via Getty Images

An article in November 2025, noted that GoPro sales had declined by nearly 37% year over year.

Despite the drop, CEO Nicolas Woodman put a positive spin on the way things stood at the time.

“Q3 marked a meaningful step forward in our strategy to diversify, grow, and restore profitability to GoPro’s business,” Woodman said. “We successfully launched three new TAM-expanding hardware products — our MAX2 360 camera, LIT HERO camera and Fluid Pro AI gimbal — alongside several new software offerings. We expect to return to revenue growth and profitability beginning Q4 2025 and in 2026.”

The cuts are expected to slash nearly a quarter of the company’s workforce. Getty Images/iStockphoto

Several people commented on a Reddit Post about the job cuts.

“Another round of layoffs (not to be confused with the previous layoffs, this is new). This is a brutal time to be laid off, I hope they land on their feet,” one person wrote. “This is 100% on Nick Woodman. He should have been laid off years ago.”

Another added, “Might be a good move for them, everyone laying off, thousands of employees, they just following the trend. For investors it sounds appealing.”

“Salaries cut off, new cameras + new processor at NBA Show -> Their stock will probably jump a lot on the next few weeks. So with this changes + new revenue if the launch is a success, might  actually save them as a company.”

A November 2025 report said sales were down year over year. Vladimir Razgulyaev – stock.adobe.com

On Tuesday, it was announced that some 700 workers at another Bay Area tech company, Oracle, would be out of work by June statewide. 

The statewide tally along with another nearly 500 firings in Seattle, is part of the software maker’s recently announced bloodbath that is reportedly in the thousands of jobs.

Last month, a 6 a.m. email message was sent out to workers notifying fired employees that they were out. 

The message from one of the world’s largest software companies, chaired by billionaire Larry Ellison, informed “thousands” of workers across the globe that March 31 would be their last day.

Two people familiar with the matter confirmed to CNBC that the layoffs involved thousands of jobs.

It’s the latest Bay Area tech company to gut its workforce globally. Getty Images

Oracle told The California Post that it would decline comment when asked about how many jobs were being cut.

As of May 2025, the software company employed around 162,0000 full-time employees, according to its annual filing with the Securities and Exchange Commission.

The California Post reached out to GoPro for further comment.

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In Schuylkill County Common Pleas Court, the company pleaded guilty to corrupt organizations, a first-degree felony. Under the plea agreement, Deibler Brothers was placed on probation and ordered to forfeit $3 million in cash and other assets to the Commonwealth. Officials say the forfeiture is one of the larger penalties tied to Pennsylvania’s enforcement actions against illegal video gaming.

Attorney General Dave Sunday announced that central Pennsylvania-based amusement company Deibler Brothers Novelty Company pleaded guilty to a felony charge regarding installment and operation of hundreds of illegal video gambling devices at bars, convenience stores, and other… pic.twitter.com/0MwLbP1AY5

— PA Attorney General Dave Sunday (@PAAttorneyGen) February 9, 2026

Attorney General Dave Sunday said the company ignored repeated warnings before charges were filed. “This company was warned time and time again, and continued to snub its nose at state regulations by flooding Pennsylvania counties with illegal gambling machines,” Sunday said. He added, “this plea resolution secures a substantial forfeiture of assets to the Commonwealth, and is the second conviction in recent days against offenders contributing to the disorganized environment of illegal video gaming in Pennsylvania.”

Investigators describe the case as the result of a multi-year effort involving Pennsylvania State Police, the Attorney General’s Office, and the Bureau of Liquor Control Enforcement. According to authorities, the machines were marketed in ways that suggested they were legal, even though they were not. They were placed in bars, convenience stores, and other small businesses across more than a dozen counties, often creating confusion for both operators and customers about what state law actually allows.

Former Pace-O-Matic executive allegedly linked to Pennsylvania novelty game company

Rick Goodling demonstrates Pace-O-Matic gaming machines during a 2020 segment for local Fox affiliate WJAC-TV News.

Prosecutors also pointed to connections between Deibler Brothers and figures already under federal scrutiny. Owners of Deibler Brothers Novelty, Arthur Deibler, Donald Deibler, and Joel Ney, were affiliated with Rick Goodling, a retired Pennsylvania State Police corporal and former Director of National Compliance for Pace-O-Matic. Goodling pleaded guilty last week to money laundering, adding further context to the state’s case against the novelty game company.

Goodling previously served as a compliance officer for Atlanta-based Pace-O-Matic, a major supplier of so-called skill games. Federal authorities say that from 2019 through 2022, he concealed taxable income by mislabeling cash payments from gaming operators as business travel expenses. Prosecutors allege those payments were made in exchange for allowing continued use of Pace-O-Matic machines outside company rules. The U.S. Attorney’s Office said the conduct resulted in “a tax loss of over $100,000 to the United States.”

Goodling, who is a retired Pennsylvania State Police corporal, now faces up to five years in federal prison. His case was investigated by the IRS, FBI, and state police. As recently as 2023, Goodling had as legal, arguing they rely on player ability rather than chance.

The cases point to a broader push by state and federal authorities to rein in illegal gambling activity. The Pennsylvania Gaming Control Board has also increased enforcement, recently adding 22 people to its involuntary exclusion lists. The individuals are now barred from casinos, video gaming terminals, and regulated online platforms.

Featured image: Screenshot from Deibler Brothers Novelty Company

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The generous gesture came after the benevolent boss sold the company for $1.7 billion.

Graham Walker, the now-former CEO of Fibrebond, told The Wall Street Journal that he would not agree to sell his company if prospective buyer Eaton did not earmark 15% of the proceeds for its employees — even though none of them owned stock.

The deal, which was completed earlier this year when Eaton acquired Fibrebond, triggered payouts to 540 full-time workers, averaging about $443,000 per worker spread over five years.

Graham Walker, the former CEO of Fibrebond, required that 15% of the proceeds from the sale of his family company go directly to employees — a $240 million windfall. Fibrebond

Long-tenured employees received far more, according to The Journal.

Walker, 46, told the newspaper that the requirement was non-negotiable.

Without it, he believed many workers who had carried the company through decades of booms, busts and near-collapse would walk out the door.

In June, employees began receiving sealed envelopes detailing their individual awards. Some of them were overwhelmed with emotion while others thought it was a prank, The Journal reported.

Others sat in stunned silence.

Lesia Key, a 29-year Fibrebond veteran who started in 1995 making $5.35 an hour, broke down when she opened her letter, according to the report.

Key, now 51, had risen to oversee facilities across Fibrebond’s 254-acre campus, managing a team of 18.

She reportedly used her bonus to pay off her mortgage and open a clothing boutique in a nearby town.

The factory floor where employees who once made hourly wages walked away with life-changing payouts. Fibrebond

“Before, we were going paycheck to paycheck,” Key was quoted as saying. “I can live now.”

Another employee used his money to take his entire extended family to Cancún, Mexico. Others paid down credit cards, bought cars outright, funded college tuition or boosted retirement savings.

One longtime assistant manager, Hong “TT” Blackwell, 67, received several hundred thousand dollars and immediately retired.

Blackwell, an immigrant from Vietnam who spent more than 15 years in Fibrebond’s logistics operation, said she used part of her bonus to buy her husband a Toyota Tacoma and set aside the rest.

“Now I don’t have to worry,” she said. “My retirement is nice and peaceful.”

Blackwell said taxes took a heavy bite — nearly $100,000 — but the net amount was still life-changing.

Across Minden, a town of about 12,000 people, the money rippled quickly through the local economy.

Fibrebond’s 254-acre manufacturing campus in Minden, where 540 full-time workers shared in the sale proceeds. Fibrebond

City officials said local retailers saw a surge in spending as employees paid off debts, renovated homes and made long-delayed purchases.

“There’s a lot of buzz about the amount of money being spent,” Mayor Nick Cox told The Journal.

Fibrebond was founded in 1982 by Walker’s father, Claud Walker, with a dozen employees building shelters for electrical and telecom equipment.

It thrived during the cellular boom of the 1990s — then nearly collapsed when its factory burned to the ground in 1998.

The Walkers kept paying employees even as production stalled, a move workers still cite as the foundation of the company’s loyalty culture.

By the early 2000s, the dot-com bust slashed Fibrebond’s customer base to just three clients, forcing layoffs that cut the workforce from roughly 900 to 320.

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Graham Walker and his brother later took over day-to-day operations, selling assets and paying down debt while searching for a new market.

The turnaround came with a risky $150 million investment to pivot into building modular power enclosures for data centers — a gamble that paid off when cloud computing demand surged during the pandemic.

Sales jumped nearly 400% in five years, drawing acquisition interest from larger industrial players.

Walker told every potential buyer the same thing: 15% of the sale price had to go to employees.

When asked why he insisted on 15%, Walker told the Journal: “It’s more than 10%.”

Advisers warned him the condition could complicate the deal or invite lawsuits from former workers who missed out, the Journal reported.

Nonetheless, Walker pressed on.

The bonuses were structured as retention awards, paid annually over five years, requiring most employees to stay with the company to receive the full amount — a provision Walker said was critical to keeping operations stable after the sale.

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Shares of the Palo Alto, Calif.-based company fell more than 5% in extended trading.

HP’s teams focused on product development, internal operations and customer support will be impacted by the job cuts, CEO Enrique Lores said during a media briefing call. The cuts would represent up to 10% of its workforce.

The company laid off an additional 1,000 to 2,000 employees in February, as part of a previously announced restructuring plan. AFP via Getty Images

“We expect this initiative will create $1 billion in gross run rate savings over three years,” Lores added.

The company laid off an additional 1,000 to 2,000 employees in February, as part of a previously announced restructuring plan.

Demand for AI-enabled PCs has continued to ramp externally, reaching over 30% of HP’s shipments in the fourth quarter ended Oct. 31.

A global memory chip price surge brought on by rising demand from data centers could push up costs and pressure profits at consumer electronics makers such as HP, Dell and Acer, Morgan Stanley analysts have warned.

Big Tech’s push to build out AI infrastructure has triggered price increases for dynamic random access memory and NAND — two commonly used types of memory chips — amid high competition in the server market.

Demand for AI-enabled PCs has continued to ramp externally, reaching over 30% of HP’s shipments in the fourth quarter ended October 31. REUTERS

Lores said that HP expects to feel the impact in the second half of fiscal 2026, with higher price increases. HP has enough inventory in hand for the first half.

“We are taking a prudent approach to our guide for the second half, while at the same time implementing aggressive actions like qualifying lower cost suppliers, reducing memory configurations and taking price actions,” Lores said.

The company expects fiscal 2026 adjusted profit per share between $2.90 to $3.20, below analysts’ average estimate of $3.33, according to data compiled by LSEG.

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HP expects adjusted first-quarter profit per share between 73 cents and 81 cents, with the midpoint coming below estimates of 79 cents apiece.

Revenue for the fourth quarter was $14.64 billion, beating estimates of $14.48 billion.

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Hans Vestberg, the Swedish executive who was pushed out in October, has an ally on the board who insists the departing CEO should still get the bulk of his pay, The Wall Street Journal reported.

Vestberg’s total compensation last year reached $24.16 million, according to SEC filings. That included a $1.5 million base salary plus stock awards and bonuses.

The 59-year-old will serve in an advisory role through October 2026, keeping him on the Verizon payroll for a full year after his ouster.

Hans Vestberg (seen right being interviewed by television host Caroline Hyde in May 2024) was removed as CEO of Verizon by the board of directors last month. AP

He’s eligible for much of his compensation package, worth over $20 million, if he hits certain performance thresholds, The Journal reported.

Verizon lost 7,000 net customers in the third quarter that ended in September, missing Wall Street expectations that it would add 19,000 customers, according to the publication.

The exec, who was appointed CEO of Verizon in 2018 after serving as CEO of Swedish telecom equipment maker Ericsson, had overseen two straight quarters of customer defections, with a third on the way.

Vestberg’s total compensation last year reached $24.16 million, according to SEC filings. That included a $1.5 million base salary plus stock awards and bonuses. Getty Images for The Whitaker Peace & Development Initiative

T-Mobile, which was bolstered by its $26 billion merger with Sprint, kept taking market share with lower-cost and higher-quality service, according to The Journal.

Investors have felt the pain as Verizon’s stock has fallen 30% over the past five years.

Mark Bertolini, who was installed as Verizon’s new chairman of the board last month, told CNBC the poor results necessitated a change.

“Verizon has gone from number one in market cap, bond ratings and market share to number three,” Bertolini told CNBC’s “Squawk Box.”

“So losing 30% share over the last eight years is an issue, and we have to do something different.”

The board tapped Dan Schulman, the former PayPal CEO who’d been serving as Verizon’s lead independent director since 2018, to take over immediately. AP

The board “needed to act, and we acted,” Bertolini said.

When Vestberg took over as CEO in 2018, he pursued a strategy focused on building out Verizon’s 5G network. The company spent more than $50 billion on spectrum to support 5G service, according to The Journal.

Vestberg also spearheaded Verizon’s acquisition of TracFone, the prepaid cellular provider, and the roughly $20 billion purchase of Frontier, a fiber-internet provider, The Journal reported.

But those moves haven’t paid off as intended, as Verizon kept losing wireless customers to rivals AT&T and T-Mobile.

The board finally ran out of patience with Vestberg at a September meeting in Texas, people familiar with the matter told The Journal.

Vestberg has an ally on the board who insists the departing CEO should still get the bulk of his pay, according to the Wall Street Journal. REUTERS

The body tapped Dan Schulman, the former PayPal CEO who’d been serving as Verizon’s lead independent director since 2018, to take over right away.

Schulman doesn’t appear to have much time to turn around the company. The 67-year-old’s contract, which runs through 2027, calls for a $1.5 million base salary plus stock awards worth tens of millions tied to the company’s performance, the Journal reported.

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Schulman is planning cost cuts that are likely to result in the reduction of about 15,000 jobs, The Journal reported Thursday. Verizon currently employs about 100,000 people.

A source familiar with the situation told The Post that the 15,000 figure is “in the ballpark” and that layoff notices are expected to be sent out to affected employees next week.

Verizon offered $4 million retention bonuses to two top executives — consumer group head Sowmyanarayan Sampath and finance chief Anthony Skiadas — to keep them through at least the end of 2027, according to the Journal.

Schulman told a Wall Street Journal event this week that Verizon needs to get “scrappier and less bureaucratic.”

Under Vestberg’s leadership, Verizon’s stock price has lost more than 30% of its value in the last five years.

Instead of focusing on network engineering, the company needs to become “obsessed with what customers want,” he said.

“We have not performed for our shareholders,” Schulman admitted. “I’m not afraid at this point in my life to make really hard decisions.”

“We have lost market share, consistently,” he said. “And that cannot continue, going forward.”

“From our perspective, Dan is in charge, he has a mandate and he expects the company to carry it out — and we will,” Rich Young, a Verizon spokesperson, told The Post.

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