Seems like the reorganization updates have gone silent in recent weeks. That combined with the stock etc is a bit ominous. Anyone hearing anything?
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L3 is gone?
Where did you hear that? 10-14% would be huge.
Layoffs are imminent. Somewhere around 10-14% of employees affected I heard. Happening this month. Way to bump up the stock price and appease equity investors while leaders line their pockets with increased share value.
Inmarsat was bought, largely, because of their established contracts. I think good will come from that. Also once VS3 flight 2 is launched and bringing in revenue, Viasat will catch-up. A runner can trip and fall and still get back up to win a race.
There are UK labor laws at play which is severely slowing down the reorg communication. They have to go later by layer and if roles, scope, level in reporting structure etc. changes there are certain legal steps and conversations which must take place before anything can be announced
This is total speculation, but it takes time to plan a huge layoff. When the stock drops so much there are consequences. Again I’m just guessing here.
People may leave on their own with the drop in stock price. Most RSUs are worth 60-80% less than when awarded.
I heard people have been let go at ISAT but this has been done quietly. Don’t know about legacy VSAT.