Viasat is in a decline. More layoffs are coming. Unfortunately it will not help company.
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Does anyone know what the criteria is for layoffs? How are they measuring performance?
Based on last year's 4th quarter financial release which was on May 25, we should have at least 7 weeks before the next round.
I've heard some thing similar about there's going to be another round layoffs. Don't know the timeline but I've heard they underestimated the Starlink effect on the projected ViaSat-3 revenue. It's tough times out there with so many companies laying off.
Less than five days after the layoffs I had a chat with my manager's manager who was tipping me off about moves within the latest re-org in engineering that preceded the layoffs. Super honestly (I know the guy a long time) he was wondering if I'd have a job by the end of the summer. There are absolutely more cuts coming.
Watch the stock after earnings is released. If the stock drops into the 20s, get your resumes updated ASAP.
When someone asked this of leadership here they said something like “we can’t guarantee there won’t be” which means there absolutely will be
I heard about the potential layoff before the announcement, and friend in the know said the number could go up to around 700. If true, they probably want to stretch out the layoffs in waves over the year since laying off 700 people in one wave is a lot for Viasat size.
Predict they will wait and see how the launch of the first Viasat-3 satellite goes and they will gauge the magnitude of the next round.....
absolutely more layoffs. when they say "we can't promise that there won't be more this year" the are saying that there definately will be.
Yes, adding to the $1.5B synergies post also Viasat entered into a legal commitment with the UK government to expand staff and R&D budgets in UK. Those moves will necessarily get funded by reducing staff and investment here.
Most likely another after Inmarsat acquisition: Viasat and Inmarsat expect to realize $1.5 billion in synergies from their merger.
That depends on new business from new satellites. If not much new business and Starlink continues to steal ViaSat customer base, then of course. I would prepare myself for next job (while still in the job).