Satellogic Layoffs

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Satellogic, a commercial Earth imaging company, laid off 34 employees, representing 13% of its workforce, as announced in a May 24 SEC filing. This move is part of the company's ongoing efforts to reduce operational costs and control spending amid slower-than-anticipated revenue growth. The layoffs follow earlier workforce reductions in 2023, where about 110 jobs were cut, as the company seeks to extend its available cash. With 274 employees globally at the end of 2023, Satellogic is also in the process of relocating its headquarters to the United States to better pursue business opportunities with the U.S. government. The company reported a net loss of $61 million in 2023 despite a 68% increase in revenue to $10.1 million.

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