---
schema_version: "secwatch.filing_event.v1"
accession: "0001836833-23-000071"
form_type: "8-K"
ticker: "PL"
cik: "0001836833"
company_name: "Planet Labs PBC"
filed_at: "2023-08-01T23:59:59+00:00"
generated_at: "2026-06-12T19:01:02.144302+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Planet Labs cuts 117 jobs (10% of workforce); expects $7-8M in severance charges

## Summary
- Reducing headcount by ~117 employees (~10% of total workforce).
- Expects non-recurring charges of $7M to $8M in Q3 FY2024 for severance and benefits.
- Headcount reduction substantially complete by end of fiscal year Jan 31, 2024.
- CEO cites focus on high-ROI opportunities, path to profitability, macroeconomic headwinds.
- Departing employees get minimum 14 weeks pay, healthcare, immigration support, career counseling.

## SEC filing metadata
- accession: 0001836833-23-000071
- form_type: 8-K
- ticker: PL
- cik: 0001836833
- company_name: Planet Labs PBC
- filed_at: 2023-08-01T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.05, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1836833/000183683323000071/0001836833-23-000071-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1836833/000183683323000071/pl-20230727.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001836833-23-000071
- JSON: https://secwatch.observer/filing/0001836833-23-000071.json
- Plain text: https://secwatch.observer/filing/0001836833-23-000071.txt

## Key facts
- Restructurings & Charges
  Planet Labs PBC announced a restructuring with charges of approximately $7 million to $8 million in aggregate pre-tax costs (approximately 117 employees).
  - Type: restructuring
  - Charge: approximately $7 million to $8 million in aggregate pre-tax costs
  - Headcount: approximately 117 employees
  source text: long-term strategy and path to profitability. As a result of the headcount reduction, the Company currently estimates that it will incur non-recurring charges of approximately $7 million to $8 million in aggregate pre-tax costs in connection with the reduction, consisting of one-time severance and other termination benefit costs. The Company expects that the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1836833/000183683323000071/0001836833-23-000071-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.