Virgin Orbit, the aviation company that provides services for launching small satellites (part of Virgin Group), said it has suspended operations and cut about 85% of its workforce. This was reported by the American TV channel. CNBC News in relation to the management of the company.
“We have no choice but to make major, extremely painful changes immediately,” said Dan Hart, Virgin Orbit CEO.
According to him, the layoffs will affect 675 jobs, but some of the staff will move to the holding’s sister companies.
Hart explained that the reason for this decision was the problems experienced in attracting funds.
In January, it became known that the American company Virgin Orbit has a LauncherOne air launch vehicle. I couldn’t do it launch vehicles into orbit.