---
schema_version: "secwatch.filing_event.v1"
accession: "0001836833-24-000070"
form_type: "8-K"
ticker: "PL"
cik: "0001836833"
company_name: "Planet Labs PBC"
filed_at: "2024-06-26T23:59:59+00:00"
generated_at: "2026-06-01T01:52:17.542835+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Planet Labs to cut ~180 jobs (17% of workforce), expects $9.5-10.5M in severance costs

## Summary
- Headcount reduction of ~180 employees (17% of workforce) committed on June 24, 2024.
- Estimates non-recurring pre-tax charges of $9.5M to $10.5M for severance and termination benefits.
- Majority of charges expected in Q2 fiscal 2025; reductions substantially complete by Jan 31, 2025.
- Company confirms no changes to prior financial guidance provided on June 6, 2024.

## SEC filing metadata
- accession: 0001836833-24-000070
- form_type: 8-K
- ticker: PL
- cik: 0001836833
- company_name: Planet Labs PBC
- filed_at: 2024-06-26T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.05, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1836833/000183683324000070/0001836833-24-000070-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1836833/000183683324000070/pl-20240624.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001836833-24-000070
- JSON: https://secwatch.observer/filing/0001836833-24-000070.json
- Plain text: https://secwatch.observer/filing/0001836833-24-000070.txt

## Key facts
- Restructurings & Charges
  Planet Labs PBC announced a restructuring with charges of approximately $9.5 million to $10.5 million (approximately 180 employees, which represents approximately 17% of the Company’s total number of employees prior to the).
  - Type: restructuring
  - Charge: approximately $9.5 million to $10.5 million
  - Headcount: approximately 180 employees, which represents approximately 17% of the Company’s total number of employees prior to the
  source text: the long-term growth and profitability of the business. As a result of the headcount reduction, the Company estimates that it will incur non-recurring charges of approximately $9.5 million to $10.5 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/1836833/000183683324000070/0001836833-24-000070-index.htm

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