Satellite imagery company Planet announced on Tuesday that it is laying off 117 employees, or around 10% of the workforce, as it looks to focus on driving revenue amid an ongoing downturn in the public markets.
In a note posted on the company’s blog, CEO Will Marshall said the decision to cut staff came about after “a deep assessment of our business and spending.”
“Our business has scaled rapidly and continues to grow apace, but the expansion of projects has also increased cost and complexity, which slowed us down in some regards,” he said. “We are making changes to prioritize our attention on
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Planet to layoff 10% of staff to focus on “highest ROI opportunities”
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