- Planet Labs (NYSE:PL) said it has planned to cut its global workforce by ~180 employees, which represents ~17% of the firm’s total number of employees.
- The firm said it expects to incur non-recurring charges of ~$9.5 million to $10.5 million in aggregate pre-tax costs related to the reduction.
- The majority of these charges will take place in the second quarter of fiscal 2025, and that the headcount reductions, including related cash payments, will be substantially complete by the end of the fiscal year ending January 31, 2025.
- Shares in the company were down 6.1% in premarket trade.
2024-06-26