According to reporting by Space News, Satellogic filed with the SEC they will lay off 70 employees leaving about 160 left. Additionally Satellogic will pause expansion of its satellite imagery constellation (which is already in a state of depletion).
It was thought Satellogic had little left to cut after so many prior rounds of layoffs. This proved wrong. But all likely, Satellogic probably had no choice. Satellogic is out of cash, worrisomely did not raise its last capital from a traditional finance source, and still is bleeding money.
And the decision to pause satellite launches was certainly the right call now. They are not selling out the capacity of their current launched satellites, so no reason to launch more. And this appears consistent with Satellogic’s switch from satellite constellation operator (which they sold to investors at time of IPO) to now low-cost satellite manufacturer. CEO Emiliano Kargieman stated Satellogic made these moves “to ensure we are operating efficiently and are well-positioned for future success.” Would love to see Satellogic turn around, but management in three years has done nothing to give confidence they can do this.