Virgin Orbit is laying off nearly all of its staff and reportedly ceasing operations"for the foreseeable future."an operational pause on March 16 as it worked to secure additional cash.
On Thursday, the company disclosed that it would cut 675 employees, or approximately 85% of its workforce, in aCNBC reported that Virgin Orbit would offer severance packages for departing staff and a partnership with its sister company, Virgin Galactic, for hiring.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
I thought it was a space tourism company where millionaires and billionaires could pop into space for a bit of a laugh and something to talk about at dinner parties?
Branson's satellite company It's a rocket launch company you clowns. Quit ''journalism'' Business Insider. You suck at it.
😂🤡
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Virgin Orbit, Richard Branson's rocket company, will lay off 85% of staff | CNN BusinessVirgin Orbit — the rocket company founded by British billionaire Richard Branson — is laying off the vast majority of its workforce as corporate leadership struggles to secure additional funding. See ... it's not all bad news...
Source: cnni - 🏆 326. / 59 Read more »
Branson’s rocket company Virgin Orbit to lay off 85% of staffVirgin Orbit was founded in 2017 after spinning off from its sister company, Virgin Galactic, which is focused on using supersonic planes to vault high-paying tourists on joy rides to the edge of s…
Source: mercnews - 🏆 88. / 68 Read more »
Virgin Orbit stock plunges after report says company will cease operationsVirgin Orbit Holdings Inc. reportedly plans to cease operations and lay off roughly 90% of its staff, according to a Thursday afternoon CNBC report. Its... How many people did you fleece with this shit chamath? After a company ceases operations- it would be odd if their stock surged!
Source: MarketWatch - 🏆 3. / 97 Read more »