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.