Fitbit Fourth Quarter Results Reportedly Fall Short, Layoffs Ahead

Fitbit remains atop the wearables market but the company’s financial struggles continue. The leading maker of fitness bands will announce later on Monday that its fourth-quarter results missed Wall Street’s expectations and that it will lay off 5% to 10% of its workforce, the news site The Information reported.

The company’s board voted last Wednesday to make the cuts as part of an effort to reduce costs by $200 million, the website said, citing anonymous sources. The expected...

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