You are here

Fitbit cutting 6% of workforce

Wednesday, February 1, 2017 - 05:50

BT_20170201_SYFIT1_2718496.jpg
Fitbit has struggled to maintain momentum for its watches, which were initially popular as a way to track steps and encourage exercise, but then quickly relegated to gadget status.

New York

FITBIT Inc will eliminate about 110 jobs, or 6 per cent of its workforce, and said fourth-quarter results won't meet analysts' estimates amid declining demand for its fitness trackers.

Fitbit expects to report that it sold 6.5 million devices for the quarter ended Dec 31

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom