Space travel: Virgin Orbit ceases operations until further notice and lays off 85 percent of its employees
The space company Virgin Orbit has announced that it will suspend operations until further notice. As a result, around 85 percent of employees will lose their jobs.
After a failed satellite launch earlier this year, space company Virgin Orbit is laying off most of its employees. This emerges from a communication from the company to the US Securities and Exchange Commission.
Accordingly, the company of British billionaire Richard Branson announced that it would reduce the number of employees by 675 employees. That corresponds to about 85 percent of the workforce. Background are failed efforts to secure financial resources. Employees from all areas of the company are affected.
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Virgin Orbit: Satellite mission failed earlier this year
Virgin Orbit was instrumental in attempting to launch the first satellite into orbit from UK soil earlier this year. An aircraft first brought the launch vehicle to a high altitude before it was launched. But the mission failed.
In mid-March, Virgin Orbit announced that it would pause operations for the time being. According to reports, business activities are now to be suspended until further notice.
The original of this article “Virgin Orbit will cease operations until further notice and lay off 85 percent of the employees” comes from chip.de.
dpa/CHIP