In the report, LightSquared said the layoffs were a, “prudent and necessary cost-savings measure to ensure the long-term success of the company and that the company is, “not considering bankruptcy.”

   LightSquared’s satellite capacity partner Inmarsat recently announced that it did not receive a $56 million payment due to the operator as part of the first phase of its contract agreement and that the debt has moved into default.

   Last week, the U.S. Federal Communications Commission (FCC) withdrew permission for LightSquared to build its LTE network after finding that the company was unable to solve its alleged interference issues with GPS signals. LightSquared claims interference testing showed bias in favor of the GPS industry’s claims.