Keeping a company healthy for the long term is no easy task considering the ebbs and flows of the space industry and difficult decisions for the overall positive results. As an example one such company, GomSpace is adjusting the organization to reach cash flow objectives. The adjustments will not have an impact on the direction of the company and the ability to meet customer demands.
GomSpace continues to reduce the costs and intends to reduce the staff with up to 30 employees before the end of this month. The change will have full effect from the fourth quarter of 2019. The cost reductions will be aimed at reducing overhead costs in the administration and overhead costs in manufacturing.
The cost reductions also include replacements in the Executive Team:
- Lars Alminde, the leading founder of GomSpace, will return to the Executive Team as the Chief Commercial Officer.
- Peter Worsøe, previously Quality Manager in GomSpace, will join the Executive Team as Chief Manufacturing Officer.
Meanwhile, GomSpace is continuing to build up the engineering capacity as they are engaged with the European Space Agency on a number of very important innovative developments of the nanosatellite capabilities in Denmark, Luxembourg and Sweden.