Viasat revealed it intends to cut around 10 per cent of its global workforce as part of an ongoing integration following an acquisition of rival Inmarsat, a cost-saving move which will result in bolstering investments in space and ground technologies.
The satellite company noted the staff reduction will affect approximately 800 roles and is expected to save around $100 million in operating costs beginning in fiscal 2025.
Viasat added the plan will help it achieve a capex target of $1.4 billion to $1.5 billion in the same period.
President at Viasat Guru Gowrappan said the decision to cut its workforce is “a very difficult one” and that “it is not something we take lightly”, but added the move is aligned with the company’s goals to focus its spending toward growth opportunities.
The plan, Viasat believes, will enable it to prioritise ongoing investments in its technologies and assets that support customers’ needs, an ambition it also stated after sealing the Inmarsat deal.
At the time, the companies said they aim to combine assets including 19 satellites to deliver connectivity and key safety services across government, maritime, aviation and commercial segments.