Fitbit to lay off 110 employees following 2 acquisitions

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Fitbit today published the preliminary results for its Q4 2017 earnings, and the wearable maker expects its revenue for Q4 2017 to be somewhere around $572 million to $580 million. The company actually expected to generate between $725 million and $750 million, but the company, unfortunately, wasn’t able to meet its initial target. And now, it’s firing around 110 of its employees.

The layoff is actually a bit surprising to see, considering Fitbit acquired two other smartwatch makers very recently. Back in December of last year, the company purchased Pebble which is one of the biggest smartwatch makers out there. Following the Pebble acquisition, the company bought Vector Watch — another smartwatch maker, albeit a smaller one.

Fitbit warned its investors that the company experienced “softer-than-expected” demand for its products during the holiday season, but it will be quite interesting to see if it manages to recover in the upcoming quarters. More importantly, if the company does indeed build a full-fledged smartwatch, we’ll have to wait and see if it manages to get any traction considering the smartwatch market still isn’t huge.

More about the topics: fitbit, Fitbit Pebble, Lay off, pebble, Vector Watch