GoPro cuts over 250 jobs and reduces its CEO's cash pay to $1 in huge restructuring plan (GPRO)

The action-camera maker said it would lay off more than 250 workers worldwide, exit the drone business, and reduce CEO Nicholas Woodman’s 2018 cash pay to $1. The company also lowered its fourth-quarter revenue forecast. In its preliminary fourth-quarter results released Monday, the maker of action cameras said it was reducing its global workforce to fewer than 1,000 employees from 1,254.