The restructuring plan is expected to result in an estimated aggregate charge of in the range of $5 million to $7 million, according to a filing. The wearable video camera maker expects the reduction in force to be substantially completed by the end of 2024.

Cash expenditures will be approximately $1.0 million of the estimated aggregate charge in the third quarter of 2024 and approximately $4 million to $6 million of the estimated aggregate charges in the fourth quarter of 2024.

The company said it expects to incur the majority of the restructuring and related charges in the fourth quarter of the fiscal year ended December 31, 2024.

Earlier in the month, GoPro reported second quarter results, which topped analysts' estimates, with the company posting a 4% rise in subscribers.

The company, during its second quarter earnings, announced its intent to reduce operating expenses by about $50 million from projected fiscal 2024 expenses to $320 million +/- $5 million in fiscal 2025.