AerospaceUS

Planet Layoffs

August 2023

Planet announced a layoff affecting 117 employees (10% of its workforce) in August 2023. The company operates in the Aerospace sector.

People Affected

117

Percentage

10%

Announced Date

Aug 1, 2023

About

Satellite-imagery and data-analysis company Planet announced a restructuring on Tuesday, laying off 117 employees, which represents about 10% of its workforce of approximately 1,000. The move is aimed at increasing focus on high-priority growth opportunities and improving operational efficiency to support the company's long-term strategy and path to profitability. CEO Will Marshall took responsibility for the decisions leading to the layoffs, citing that the company's expansion since its 2021 public listing had increased costs and complexity. This follows a lowered annual forecast earlier in the year due to a challenging macro environment.