A look at GoPro's hiring as it shifts away from China
As of today, GoPro ($NASDAQ:GPRO) is set to shift its production out of China in the wake of the trade war between the United States and China. Although President Donald Trump and President Xi Jingping are reportedly still in talks — as President Trump reminded his followers this morning — 10% tariffs on about 194 pages worth of Chinese goods (as organized by Harmonized Tariff Schedule Codes) are still in place.
Although it will keep some international production in China, it plans to move U.S.-bound products to other manufacturers.
On GoPro's careers website, the number of openings for jobs based in China decreased slightly from how many there were over the summer, which was right when President Trump started ramping up tariffs, and about two months before the 10% tariff enactment.
This trend isn't due to an overall lack of hiring, as was the case in March and April when there was only one job opening in China while there were under 30 open positions total. Right now, hiring is up at GoPro since it cut its drone division earlier this year. In fact, the number of job openings at GoPro hit its highest mark in 2018 during the end of November when there were 65 individual listings for three straight days.
Meanwhile, the number of open GoPro positions in other large Asian cities has increased. This includes Hong Kong, who sits in an awkward middleman spot between China and the United States.
The United States–Hong Kong Policy Act makes it so Hong Kong is treated as a seperate country when it comes to trade exports, but is under the sovereignty of China. It also acts as a middleman for Chinese-U.S. trade, so any decrease in imports and exports between the two countries could have an effect on Hong Kong.
Still, GoPro put up two more job openings in Hong Kong, a place where they didn't have any openings before 2018, over the past few months.
In terms of company stock, GoPro is trading close to 52-week lows as of 11:41 AM EST on December 10. However, with a recent growth in hiring efforts and a shift away from Chinese production, perhaps GoPro can turn its fortunes around in 2019.