The maker of Up fitness trackers is closing its New York office and letting about 60 workers go.
The company says that it will cut 15 percent of its staff as it refocuses its business on "premium smartphones, virtual reality, and connected lifestyle products."
The company's looming layoffs and its sales plunge suggest that the action-cam market may be a fad. GoPro is looking to drones and new video software to rebuild its staying power.
The company swings to a loss on the weight of layoffs and a writedown of its Nokia handset division.
Job cuts will hit nearly all divisions later this week in the second wave of the company's larger plan to cut 18,000 employees, sources tell ZDNet.
A fresh round of layoffs stings, but the company still plans to sell smartphones -- just not as many, or as widely as it used to.
The layoffs will mostly hit employees in the former Nokia smartphone business. CEO Satya Nadella says Microsoft remains committed to phones but needs a dose of "reinvention."
At least one stage of the company's turnaround process is complete, according to an internal memo obtained by Reuters.
Hundreds of Nokia employees in China reportedly rally against the software giant's "hostile takeover and violent layoffs."
After being named the worst company in America two years in a row, current and former executives, employees and partners tell us how EA redeemed itself.