As anticipated, wearable leader Fitbit kicked off the week by announcing a six-percent reduction in global work force, following disappointing fourth quarter financials. From a report: A preliminary statement issued this morning details the loss of 110 jobs, as part of a "reorganization of its business" designed to "creat[e] a more focused and efficient operating model." The news follows what has been a disappointing several months for the wearable space at large, impacting even Fitbit, the dominant player in the space. As rivals like Jawbone grapple with the future and the smartwatch space looks dismal, however, the Fitbit has been making acquisitions, including the once promising smartwatch pioneer Pebble, which met with its own struggles as the year drew to a close. The financials detail 6.5 million devices sold for the fourth quarter of last year, with quarterly revenue and annual revenue growth both falling below the company's guidance range.
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