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

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

Does this include virgingalactic or just VirginOrbit?

Nigeria Nigeria Latest News, Nigeria Nigeria 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 »

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?
Source: BusinessInsider - 🏆 729. / 51 Read more »