Richard Branson's Virgin Orbit slashing 85% of its workforce

Richard Branson's Virgin Orbit slashing 85% of its workforce

SeattlePI.com

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Richard Branson’s Virgin Orbit is letting go of almost its entire work force with the satellite launch company finding it difficult to secure funding three months after a failed mission. The company, headquartered in Long Beach, California, will cut 675 jobs, about 85% of its workforce, according to a Friday filing with the U.S. Securities and Exchange Commission. In January, a mission by Virgin Orbit to launch the first satellites into orbit from Europe failed after a rocket’s upper stage prematurely shut down. It was a setback in the United Kingdom which had hoped that the launch from Cornwall in southwest England would mark the beginning of more commercial opportunities for the U.K. space industry

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