Fitbit Expected to Announce Layoffs in Fourth Quarter Results

Fitbit is set to announce cuts of between 5 to 10 percent to its workforce later on Monday amid lower-than-expected fourth quarter results. According to The Information, the job cuts are expected to affect between 80 and 160 people across multiple departments and save the company $200 million in costs. The Q4 results will be the second consecutive quarter in which Fitbit has missed its earnings guidance. Fitbit is expected to blame the slowdown on a sluggish market, despite Market research...

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