Virgin Orbit: Sir Richard Branson's rocket company cuts 85% of workforce

[webfact]

Sir Richard Branson

 

By Annabelle Liang
Business reporter

British billionaire Sir Richard Branson's rocket company Virgin Orbit says it will cut 85% of its workforce after failing to secure new investment.

 

The firm will also cease operations for the foreseeable future, according to media reports.

 

It comes weeks after the company paused operations in an apparent attempt to shore up its finances. Earlier this year, a Virgin Orbit rocket failed to complete the first ever satellite launch from UK soil.

 

Full story: https://www.bbc.com/news/business-65133099

 

 

-- © Copyright BBC 2023-04-01

[thaibeachlovers]

On 4/1/2023 at 11:37 AM, webfact said:

 Earlier this year, a Virgin Orbit rocket failed to complete the first ever satellite launch from UK soil.

I guess his rockets are as pants as his Virgin train service. Worst British train company I ever traveled on.

[DJ54]

It’s an expensive business… doing a one off doesn’t make since…

[Tug]

To bad I was rooting for this renaissance man an obviously talented guy sad ????