Tough drone market forces layoffs at French maker Parrot

Parrot is one of the many companies that’s selling drones but even though sales of these products are on the rise, its drone division appears to be performing not as well as the company would want it to. The company sent out a press release today confirming that it failed to meet its Q4 2016 target by 15 percent as it brought in 85 million euro against a target of 100 million euro. It’s now looking to downsize the division. “The commercial performance for consumer drones in the fourth quarter was achieved based on margins that would be insufficient to deliver profitable growth for this business over the medium and long term,” Parrot details in its press release, adding that the company has prioritized a strategy to rebalance its finances.The strategy revolves around restructuring the entire drone division. Parrot is planning to downsize by reducing 290 jobs out of a total of 840. This means that Parrot is going to lay off over a third of the entire drone division.It’s also goin

Tough drone market forces layoffs at French maker Parrot

Shares in French drone manufacturer Parrot crashed more than 17 percent on Tuesday after the group announced mass job cuts, signalling an end to years of expansion in the new technology market.

Tue 10 Jan 17 from Phys.org

Parrot Drone Division Being Downsized

Parrot is one of the many companies that’s selling drones but even though sales of these products are on the rise, its drone division appears to be performing not as well as the company ...

Tue 10 Jan 17 from Ubergizmo

Parrot lays off 35 percent of its drone team

 French company Parrot has had a rough year and missed its sales expectations. That’s why the company will lay off 290 employees who were working on drones. In total, Parrot currently ...

Tue 10 Jan 17 from TechCrunch

Parrot to cull its drone division by over a third - CNET

Up to 290 jobs could go after the company's 2016 fourth-quarter failed to hit targets.

Tue 10 Jan 17 from CNET

Parrot lays off 290 drone division employees

It was a disappointing holiday season for French drone maker Parrot. The company announced Monday that it will lay off about 290 employees -- or more than a third of the employees currently ...

Mon 9 Jan 17 from Engadget

Parrot cutting a third of drone staff in latest industry downturn

French drone maker Parrot said today it would be laying off a third of employees, or about 290 people, in its drone division. The news was announced as part of its most recent quarterly ...

Mon 9 Jan 17 from The Verge

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