Drone Maker XTEND Lays Off 10% of Workforce

Israeli drone manufacturer XTEND has announced the layoff of approximately 10% of its workforce. The move follows a sharp decline in the company's valuation, which has plummeted by about 75% on the New York Stock Exchange (NYSE) since its initial public offering, which valued the firm at $1.5 billion. This was reported today (Sunday) by the financial outlets CTech and Calcalist. At this stage, further details regarding the impact of the layoffs on the company's operations or its future plans have not yet been released.