GoPro has announced a reorganization program that will involve the elimination of about 200 jobs, or 15 percent of its staff, and the closing of its entertainment division, in a bid to reduce operating expenses by $650 million and return to profitability in 2017. The entertainment division was supposed to create an online channel to broadcast content generated by users and by GoPro, in competition with Youtube and social networks. Tony Bates, the former chief executive of Skype who became president of GoPro in 2014, will leave. The reorganization will cause aggregate charges of $24 million to $33 million, which will be mostly charged to its results for the fourth quarter of 2016. At the same time, the company reported solid sell-through rates for its new Hero5 action cameras in the U.S. last month. The restructuring program follows a series of miss-haps that may lead to a class action suit by GoPro's shareholders (see the news brief in the Legal & Institutional section further below).