Fitbit cuts fourth-quarter revenue estimate, slashes workforce
Jan 30 (Reuters) - Wearable fitness device maker Fitbit Inc lowered its fourth-quarter revenue estimate on Monday and said it would cut about 6 percent of its workforce.
The company said it expects fourth-quarter revenue to be $572 million-$580 million from its earlier estimate of $725 million-$750 million.
Fitbit, whose shares were down 17 percent in premarket trading, had about 1,627 employees as of Oct. 1.
(Reporting by Rishika Sadam in Bengaluru; Editing by Martina D'Couto)
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