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Virgin Orbit to lay off about 85% of staff

Summary by Reuters
Rocket maker Virgin Orbit Holdings(VORB.O) on Thursday said it was laying off about 85% of staff because it had not been able to raise new investment.
Published 2 months ago · London, United Kingdom

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Times of IndiaTimes of India

Virgin Orbit to lay off about 85% of staff

About 675 employees will lose their jobs, and the company expects to take related charges of about $15 million, Virgin Orbit said in a regulatory filing.

2 months ago·Mumbai, India
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BBC NewsBBC News

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

Virgin Orbit will cease operations for the foreseeable future, according to media reports.

2 months ago·United Kingdom
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The GuardianThe Guardian

Virgin Orbit cuts 85% of workforce after failing to secure fresh funding

Decision raises fears that company founded by Sir Richard Branson may be on verge of collapse

2 months ago·London, United Kingdom
Read Full Article
ReutersReuters

Virgin Orbit to lay off about 85% of staff

Rocket maker Virgin Orbit Holdings on Thursday said it was laying off about 85% of staff because it had not been able to raise new investment.

2 months ago·United Kingdom
Read Full Article
The IndependentThe Independent

Virgin Orbit laying off most staff, ceasing operations ‘for foreseeable future’

Company has been wrapping up its investigation of the mid-flight failure of its launch in January

2 months ago·London, United Kingdom
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USA TodayUSA Today

Richard Branson's Virgin Orbit to slash 85% of workforce as it fails to secure funding

The move comes just weeks after Virgin Orbit paused operations as it sought a funding lifeline.

2 months ago·United States
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