The Morning Badger (3/16/17): GoPro Keeps Laying Off Hundreds of Workers


GoPro

270

That’s the number of jobs GoPro ($GPRO) is laying off to save $200 million. The company will remove existing and open positions to help curb their losses, which stem from a costly drone recall, among other things. GoPro previously cut 7% of their workers last January and 15% of remaining workers in November. Investors reacted positively to the announcement of massive layoffs, and the company’s stock is up over 10% before the market opens today. It is believed that this latest cut will help the company get back on track and become profitable once again.

Walmart = Trendy?

Jet, the Walmart-owned online shopping company ($WAL), is getting into the acquisition game. The company is supposedly buying ModCloth, a trendy online women’s clothing retailer that targets a younger generation. This comes a few months after Jet bought Zappos rival ShoeBuy.com. It will help the site bring in a much younger audience and could woo 18-35-year-olds away from Amazon. There’s already some online backlash against the alleged deal from longtime ModCloth shoppers who fear Walmart’s corporate structure and reputation could ruin the brand.

The Latest Name in Self-Driving Cars: Bosch

Bosch is partnering with Nvidia ($NVDA) to sell the latter’s automated driving system. Bosch, along with ZF, will supply automakers with the Drive PX2 hardware and software, which uses sensors and artificial intelligence to automate driving. Bosch’s expertise will be used to develop sensors for the platform, while Nvidia will supply automakers with hardware and software. The company expects the product to be available in the next several years.