Fitbit will lay off 110 employees amid challenges in wearable market

Fitbit today released preliminary results for its upcoming fourth quarter earnings report, and the news isn’t good.

The digital health and fitness company, which has led the wearables industry in market share for several consecutive quarters, warned investors that it experienced “softer-than-expected” demand for its products during the critical 2016 holiday quarter. It also said it would be laying off about 6 percent of its workforce, or around 110 employees.

The news of the layoffs...

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