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Walmart-backed DroneUp is cutting jobs as drone delivery market struggles

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DroneUp has been fulfilling some orders for Walmart, and is one of several companies vying to make delivery by drone a reality.

and others in the nascent drone delivery market, is cutting jobs across the company, CNBC has learned.

Founded in 2016, DroneUp has a fleet of quadcopter-style drones that are designed to handle the last-mile portion of the delivery process, ferrying things like clothing, medication and food from warehouses to customers' doorsteps.

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