Massive Layoff By Fitbit Could Spawn A $200 Million Savings

Posted: Jan 31 2017, 11:14am CST | by , in News | Technology News

Massive layoff by Fitbit could spawn a $200 million savings

After buying Pebble, Fitbit has dropped rumors of some imminent plans. One of the current priorities of Fitbit is to execute a layoff which will include about 10 percent of the employees facing the door according to The Information.

An expected number of 80-160 employees will be fired from the offices of Fitbits. Fitbit has been vigorous in the market lately and have set plans of launching an App store. Rumors also suggest that Fitbit’s products will be opened-up for third-party application development.

Moreover, it won’t come as a surprise if the company takes it to the smartwatch market. With all the plans, Fitbit surely needs a financial back to see-through to all their priorities.

This layoff will be granting the company a savings of an approximate $200 million. The funds are expected to be utilized spontaneously along with the assets acquired by Fitbits on buying Pebble (for $40 million dollars).

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The Author

<a href="/latest_stories/all/all/32" rel="author">Ahmed Humayun</a>
Ahmed Humayun is a technology journalist bringing you the hottest tech stories of the day.




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