Reports Are As Many As 70 Percent Of American Division May Lose Their Jobs

An undisclosed number of employees of Yuneec USA will be losing their jobs, the company confirmed on Friday.

Market Watch reports that the company issued a statement saying it was planning to "scale back our business structure to secure a balance between operational costs and revenue. We concluded that we upsized operations faster than our growth required."

Yuneec recently received $60 million in funding from Intel through the chip-maker's venture-capital firm. sUAS News reports that Yuneec and Intel will continue to develop future projects.

Yuneec is only the latest drone manufacturer to announce it is cutting staff. The industry recently saw Autel, Parrot, 3DR, GoPro and Zero Tech all announce layoffs.

Media reports say that DJI has essentially won the entry-level drone war with its quickly-evolving line of  aircraft, and that the de-facto entry-level drone is now the Phantom 4 Pro. They predict that there will be more adjustments in the sector, including in post-production tools, as the year progresses.

FMI: www.yuneec.com