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Richard Branson's Rocket Company Shuts Down for 'Foreseeable Future'

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The company's inability to secure new funding has placed the space venture in serious jeopardy.

Virgin Orbit is laying off 85% of its workforce, or 675 employees, and ceasing operations for the foreseeable future “in order to reduce expenses in light of the company’s inability to secure meaningful funding,” the company wrotfore“Unfortunately,

we’ve not been able to secure the funding to provide a clear path for this company,” CEO Dan Hart told employees during an all-hands meeting on Thursday, CNBCFollowing the company’s announcement, Virgin Orbit’s stock fell by 41% on Thursday, according to

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Does this include virgingalactic or just VirginOrbit?

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Richard Branson satellite company Virgin Orbit laying off 85% of staffVirgin Orbit, Richard Branson's satellite company, is laying off 85% of staff and reportedly ceasing operations 'for the foreseeable future' 😂🤡 Branson's satellite company It's a rocket launch company you clowns. Quit ''journalism'' Business Insider. You suck at it. 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?
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