Fitbit Might Lay Off Up to 10% of Its Staff

Fitbit is expected to announce terrible fourth quarter earnings, according to recent reports. Apparently, Fitbit isn’t doing so good and intends to lay off between 5% and 10% of its workforce which totals 1,600 employees in offices all around the world.

This would mean that between 80 and 160 people will lose their jobs at Fitbit, as the company may have recorded its second consecutive quarter in which it missed its earnings guidance as a direct result of a slowing wearables market.

The company is apparently looking to reduce costs by about $200 million and the board as already voted on the job cuts last week. Fitbit didn’t comment on the matter, but recent reports show that the company is looking into creative ways to boost sales.

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