Long Beach's Virgin Orbit lays off 675 people, 85% of its workforce
Richard Branson's Virgin Orbit is laying off about 675 employees, or 85% of its workforce, as the air-launched rocket company failed to find funding to sustain its operations. The Long Beach company plans to spend $8.8 million in severance payments and employee benefit costs, and an additional $6.5 million on outplacement services and other related costs, according to a company filing Thursday ...
by Samantha Masunaga, Los Angeles Times
Mar 31, 2023
1 minute
Richard Branson's Virgin Orbit is laying off about 675 employees, or 85% of its workforce, as the air-launched rocket company failed to find funding to sustain its operations.
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