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Fitbit To Cut Jobs After Weak Q4

Fitbit is to cut between 5% and 10% of its employees, the company will announce on Monday, while disclosing that its fourth-quarter results were below expectations. The disclosures are the latest sign of a slowdown in the wearables market, according to two people briefed on the news.

About 1,600 people work at Fitbit so the job cuts affect between 80 and 160 people, across multiple departments. Fitbit is also undertaking a reorganization which, along with the job cuts, will reduce costs by about $200 million. The company’s board voted on the job cuts on Wednesday, one of these people said.


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UPDATE: The $200 million in savings will come from job cuts and a broader reorganization. An earlier version of this story said the savings came from the job cuts.


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