Fitbit to fire 110 employees to reduce costs
US-based wearables maker Fitbit on Monday announced that  in order to reduce costs, it will be firing 6% of its workforce affecting 110 employees. Fitbit also shared its preliminary fourth quarter results for 2016, where it said that it had sold fewer wearables than expected during the year. Fitbit recently acquired two smartwatch startups namely Pebble and Vector.