Fitbit has announced that it will be conducting a “reduction in force, that will impact approximately 110 employees.” That comes out to about six percent of the company’s workforce. The decision is coming after a disappointing fourth quarter for the wearables company. Fitbit’s 2016 Quarter four revenue expectations were as high as 750 million dollars, but it now estimates an earned range between 572 million and 580 million dollars. Company CEO James Park said the missed goals are not necessarily indicative of a large weakness in the company. Fitbit’s 2016 year-end report will be released in February.
https://www.cnet.com/news/fitbit-cuts-6-of-employees-amid-missed-q4-goals/#ftag=CAD590a51e

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