2016 was a rough year for the consumer drone industry — and French electronics company Parrot is the latest to announce it took a hit.
Parrot, which makes the Bebop consumer drone and recently launched the Disco fixed wing drone, announced Monday a plan to reduce its drone team of 840 employees by 290 people — about one-third. 150 positions would be cut from its headquarters in France, along with other positions around the world, according to its most recent earnings report.
Parrot reported fourth-quarter revenues of $89.8 million, below its target of $105.7 million. Drones generated $63.4 million in revenue for the company, which also manufacturers headphones and smart devices including flower pots. Parrot said it is targeting 10% growth for its drone business in 2017 with a goal to break even on operation costs.
A few months prior to the GoPro news, 3D Robotics, laid off 150 members of its staff. At its peak, the company had employed more than 350 people.