spacetoday.net: Eutelsat to lay off 10% of workforce

Posted: Sun, Nov 3, 2019, 8:26 AM ET (1326 GMT)
Eutelsat is planning to lay off about 10% of its workforce as part of cost-cutting measures. The Paris-based satellite operator said it will lay off about 100 of its 1,000 employees, as well as freeze wages and suspend hiring. That overall effort will save the company 20â€“25 million euros annually by 2022 as the company looks for ways to reduce spending while investing in broadband connectivity to jump-start growth. The company is also facing a potential loss of its Eutelsat 5 West B satellite that suffered a solar array problem after launch in October. The company expects to determine this month if the satellite can be salvaged, and said it's too soon to talk about a mitigation plan if it is declared a loss.