• by Gavin O'Malley  @mp_gavin, January 30, 2017

Amid a broader slowdown in wearable growth, Fitbit plans to cut 6% of its workforce -- or about 110 employees -- the gadget maker announced on Monday.

The news coincided with Fitbit’s preliminary fourth-quarter earnings, on Monday, which were less than stellar.

The company expects quarterly revenue to come in between $572 million to $580 million -- far off an earlier estimate of $725 million to Poor Q4 Earnings Results In @Fitbit Plan To Cut 6% OF Workforce$750 million.

“Fourth-quarter results are expected to be below our prior guidance range,” James Park, Fitbit co-founder and CEO, stated on Monday.

By way of explanation, Park said: “We have experienced softer-than-expected holiday demand for trackers in our most mature markets, especially during Black Friday.”

On the bright side, Park noted that the company recently experienced rapid growth in select markets -- like EMEA, where revenue grew 58% during the fourth quarter. “To address this reduction in growth and what we believe is a temporary slowdown and transition period, we are taking clear steps to reduce operating costs,” Park added.

Among other efforts to spark sales, Fitbit recently bought stylish smartwatch maker Vector for an undisclosed sum. Fitbit also recently agreed to acquire the software team behind smartwatch startup Pebble.

With both deals, Fitbit continues to assemble an impressive talent roster, including some of the brightest minds in the smartwatch business.

By some measures, Fitbit already has Apple on the run. In the third-quarter, cheap fitness trackers have outsold Apple’s more technologically sophisticated smartwatch, according to a recent report from IDC. As such, Apple saw smartwatch sales decline 71%, year-over-year.

In the emerging wearables marketplace, consumers seem to prefer simplicity, according to Jitesh Ubrani, senior research analyst for IDC. “Where smartwatches were once expected to take the lead, basic wearables now reign supreme,” Ubrani noted in the report.

Basic wearables -- primarily comprised of fitness bands -- accounted for 85% of the market and experienced double-digit growth during the third quarter.

Much of the increase was attributed to the launch of newer models, an expanding user base and an enticing summer season that allowed people to step out of their homes.

Why are consumers seem to prefer more basic gadgets? “Simplicity is a driving factor,” Ubrani said.

Despite recent negativity surrounding the company's long-term strategy and stock price, Ubrani said he expected Fitbit to continue leading the pack in the near term.

Presently, Fitbit boasts a community of more than 23.2 million active users.