The action camera maker company GoPro will cut its workforce by 15 percent, it announced on Wednesday.
The announcement comes months after previous layoffs in January when the company reduced its workforce by 7 percent.
More than 200 full-time workers will be laid off in the most recent jobs cuts, the company announced. GoPro will also close its entertainment division, as a result of the company's restructuring.
"We have a lot of work to do to finish the quarter and our fiscal year, however our HERO5 cameras have been very well-received by critics and consumers alike," said Nicholas Woodman, GoPro’s founder and CEO.
Other changes include GoPro President Tony Bates’ departure from the company at the end of the year.
"My time at GoPro has been an incredible experience," said Tony Bates, who previously worked for Skype and a Microsoft. "In the past three years, GoPro has seen enormous progress in camera technology, software and international growth. Today GoPro has a solid leadership team deeply focused on its core business and profitability."
The news comes after the company was forced to recall all its Karma Drones for safety reasons linked to incidents of power failure earlier this month, only 16 days after they were released.
However, the company tried to reassure investors by boasting about GoPro’s Black Friday sales. From Thanksgiving through Cyber Monday sales of camera units at GoPro.com were up about 33 percent year-over-year, the company said.
"Consumer demand for GoPro is solid and we've sharply narrowed our focus to concentrate on our core business," said Woodman. "We are headed into 2017 with a powerful global brand, our best ever products, and a clear roadmap for restored growth and profitability in 2017."