Fitbit’s workforce may be cut up to 10% due to slow sales in Q4
Fitbit has been gobbling up smartwatch makers in recent months, but the company itself may not be doing so great. According to information from The Information, Fitbit could be laying off up to 10% of its workforce. That equates to about 160 people. Apparently, Fitbit is about to undertake a company-wide reorganization.
It’s widely assumed that the wearable market is to blame for Fitbit’s poor numbers. It’s tough out there, even for the major manufacturers. As mentioned earlier, Fitbit has acquired several companies in recent months. Most notably Pebble and Vector, but also Coin’s payment platform (remember Coin?). It’s looking like Fitbit is gearing up to offer a more robust software experience to compete with real smartwatches.
Do you own a Fitbit device? What would it take to get you interested in Fitbit wearables?