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Jawbone Lays Off 15% of Employees Amid Heated Rivalry in Wearables

An influx of wearables competitors  is starting to take its toll on some manufacturers. Last week, Fossil  agreed to acquire wearable fitness tracking startup Misfit Inc. for $260 million, according to The Wall Street Journal.

Jawbone is shutting its New York office and letting go of 15% of its employees as the consumer electronics maker faces industry consolidation. San Francisco-based Jawbone has laid off about 60 employees, including reducing operations in Sunnyvale, Calif., and Pittsburgh, Penn., according to the company.

Read More at The Wall Street Journal