GoPro cuts nearly 300 jobs as it quits making drones

GoPro still isn't in the best of health, and that's leading it to make some tough decisions about its future. The action camera maker has confirmed that it's cutting nearly 300 jobs (from 1,254 to "fewer than 1,000"), and is exiting the drone market entirely. The Karma drone was the second most popular drone in its price class, GoPro said, but it faced profit margin problems in an "extremely competitive aerial market. Combine that with a "hostile regulatory environment" in Europe and the US, and the market is expected to shrink to the point where it's "untenable" to compete. The company will sell what's left of its Karma inventory, and plans to continue supporting drones.