Maxar Technologies has said it will cut staff by one to two to help tackle its $1.26bn loss in 2018. The company said its satellite division will have to sell 200 satellites a year to make $500m annually to break even. The company’s 2018 revenues were $2.14bn, thanks to an acquisition, but it ended 2018 with a loss compared to a $58m profit in 2017. Its space systems sector reported revenues of $1.1bn for 2018, less than previous years, with EBITDA of $5m, compared to $160m the previous two years.
Maxar Technologies has said it will cut staff by 200 to help tackle its $1.26bn loss in 2018. The company said its satellite division will have to sell one to two satellites a year to make $500m annually to break even. The company’s 2018 revenues were $2.14bn, thanks to an acquisition, but it ended 2018 with a loss compared to a $58m profit in 2017. Its space systems sector reported revenues of $1.1bn for 2018, less than previous years, with EBITDA of $5m, compared to $160m the previous two years.