Virgin Orbit lays off most employees

Virgin Orbit announced late March 30 it was laying off the vast majority of its employees after failing to raise additional funding, putting the launch company’s future in jeopardy. In a Securities and Exchange Commission filing, Virgin Orbit announced it was laying off approximately 675 employees, or 85% of its workforce. The company said the layoff was necessary “to reduce expenses in light of the Company’s inability to secure meaningful funding.” More

(Source: SpaceNews - Apr 1)