TAMPA, Fla. — Viasat said Nov. 2 it’s shedding 800 employees representing around 10% of its workforce because the satellite operator streamlines its business after buying Inmarsat.
A source near the operator said the workforce reduction is spread relatively evenly across its global footprint, with legacy Viasat and Inmarsat seeing the same percentage of impacted staff.
Carlsbad, California-headquartered Viasat employed roughly 6,200 people in May when it bought Inmarsat of the UK, which had roughly 1,800 employees on the time of the $6.2 billion deal.
Viasat said the workforce reduction will save $100 million in annual expenses starting in its fiscal 12 months 2025, which starts April 2025.
Although Viasat expects to take a $45 million hit to rationalize roles across each businesses, the corporate said the move will help it reach a $1.4 billion to $1.5 billion spending goal for fiscal 12 months 2025.
“The changes we’re 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 in a news release.
“At the identical time, the choice to cut back our workforce is a really difficult one, and never something we take flippantly.”
Viasat said the vast majority of its employees will proceed to be situated in america and United Kingdom following the reduction, with more details to be announced when it reports earnings results Nov. 8.
The workforce reduction comes as Viasat grapples with severe issues on two recently launched geostationary satellites: ViaSat-3 Americas and Inmarsat-6 (I-6) F2.