UFO - Planet Labs Slashes Workforce By 17% Eyes Efficiency Amid Financial Challenges | Benzinga
On Wednesday, Planet Labs (NYSE:PL) announced a reduction in workforce affecting approximately 17% of its employees.
In an exchange filing, the company announced it would reduce its global workforce by about 180, constituting approximately 17% of its workforce before the cuts.
This decision aligns with the company’s strategy to realign resources with market opportunities, enhance operational efficiency, and foster long-term growth and profitability.
Due to the workforce reduction, the company expects to incur non-recurring charges totaling approximately $9.5 million to $10.5 ...