Viasat Inc Will Reduce Its Global Workforce By ~800 Roles, Or About 10%, Spread Across Business In Terms Of Geographies And Divisions
Portfolio Pulse from Benzinga Newsdesk
Viasat Inc. announced a reduction of its global workforce by approximately 800 roles, or about 10%, as part of its integration program following the acquisition of Inmarsat. The move is aimed at streamlining operations and achieving operational and cost efficiencies. The company expects to incur charges of around $45 million related to the workforce reduction, predominantly in the second half of fiscal year 2024.
November 02, 2023 | 1:29 pm
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NEUTRAL IMPACT
Viasat's workforce reduction could lead to short-term operational disruptions but may improve long-term profitability. The $45 million charge could impact earnings in the second half of fiscal year 2024.
The workforce reduction is a significant event for Viasat, potentially causing short-term disruptions but potentially improving long-term profitability by reducing costs. The $45 million charge is a significant expense that could impact the company's earnings in the second half of fiscal year 2024.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100