Chicago-based Gogo Inc. (NASDAQ: GOGO) has updated additional measures being taken in response to the ongoing COVID-19 pandemic and its impact to commercial aviation, the company said.
As part of its continued cost reduction initiatives to align the scale of its organization with current demand for aviation connectivity services, Gogo is eliminating 143 full time positions, predominantly from the company´s Commercial Aviation business.
The reduction in force will take effect on August 14, 2020, and represents approximately 14% of the Company´s overall workforce. In addition to the reduction in force, Gogo will continue certain furloughs and maintain the salary reductions that were previously implemented.
In keeping with the previously announced 16-lever plan to reduce costs, Gogo will continue to pursue non-personnel cost-savings levers, including renegotiating terms with suppliers, delaying aircraft equipment installations, deferring purchases of capital equipment, reducing marketing and travel expenses, and eliminating non-essential spend.
Gogo is an inflight internet company, providing broadband connectivity products and services for aviation.