SpaceX to lay off 10% workforce

Business 1/12/2019, 6:30 AM
SpaceX to lay off 10% workforce

Space Exploration Technologies Corp. announced that it will be laying off 10% of its 6,000 workforce in a push to become "leaner."

The company, which is attempting to develop interplanetary spacecraft as well as satellite-based broadband services called Starlink, said the cutback comes "because of extraordinarily difficult challenges ahead" and that they would not be "otherwise necessary."

"Either of these developments, even when attempted separately, have bankrupted other organizations. This means we must part ways with some talented and hardworking members of our team. We are grateful for everything they have accomplished and their commitment to SpaceX’s mission," the company stated.

Breaking the News / MD