Virgin Orbit pausing all work, reportedly furloughs staff

Virgin Orbit says it is pausing all operations amid reports that the company is furloughing almost all its staff as part of a bid to seek a funding lifeline. The U.S.-based satellite launch company confirmed it is putting all work on hold but didn't say for how long. A statement on Thursday said the company “is initiating a company-wide operational pause." It said it would provide an update on operations in the coming weeks. The company didn't comment on reports that all but a small number of workers will be temporarily put on unpaid furlough. A mission by Virgin Orbit to launch the first satellites into orbit from Europe failed in January after its rocket’s upper stage prematurely shut down.