Satellogic Announces New Round Of Layoffs, Slows Satellite Deployment

Satellogic, the commercial Earth imaging company, has announced another round of layoffs, just weeks after making workforce reductions. This news comes as a blow to the company and raises questions about its future plans.

In a filing with the U.S. Securities and Exchange Commission on June 14th, Satellogic revealed plans to lay off roughly 70 employees, representing approximately 30% of its remaining workforce. The company did not disclose specific details about the affected positions or locations.

This follows an earlier round of layoffs in May, where Satellogic cut 13% of its workforce as part of cost-reduction efforts. The recent announcement indicates a deeper financial strain for the company.

Industry analysts speculate that Satellogic's struggles may stem from a competitive landscape and securing new business, particularly with the U.S. government. Additionally, slowing deployment of new satellites suggests a potential recalibration of their growth strategy.

Satellogic is not alone in facing challenges. Other space companies, such as True Anomaly and NASA's Jet Propulsion Laboratory, have also announced workforce reductions recently. The broader economic climate and uncertainties in government funding may be contributing factors.

The impact of these layoffs on Satellogic's operations and future remains to be seen. The company is yet to comment publicly on the specific reasons behind the workforce reductions.