Viasat axes 800 staff
November 3, 2023
By Chris Forrester
Satellite operator Viasat, which also now owns London-based Inmarsat, is to let 800 staff go as a result of integrating the two business. The lay-offs represent some 10 per cent of Viasat’s workforce.
Viasat said the move would save $100 million (€93.9m) in annual costs by 2025. Costs associated with the decision would be about $45 million and would be incurred during the second-half of 2024.
“The changes we are announcing today are consistent with our goals to focus our spending toward our biggest growth opportunities and position Viasat for long-term success, while expanding margins and profitability,” Viasat President Guru Gowrappan said. “At the same time, the decision to reduce our workforce is a very difficult one, and not something we take lightly. We would like to express our gratitude to our departing colleagues for their dedication, hard work and contributions, which have been integral to Viasat’s success story.”
Viasat is facing two major technical problems with its satellite fleet. It has yet to solve the key antenna problem with its latest ViaSat 3 Americas craft. It also lost an Inmarsat satellite (I6-F2). Both are likely to be the subject of insurance claims.