It comes after the satellite launch company announced it was cutting 85 percent of its staff.
, has filed for bankruptcy in the U.S. after last-ditch attempts to secure funding to keep the venture alive fell apart. Last week, the California-based company announced it was cutting 675 staff—around 85 percent of its payroll—citing an “inability to secure meaningful funding.
” That setback also followed ain January that was hoped to have been the first time a satellite was sent into orbit from U.K. soil. Virgin Orbit was founded in 2017 as a spinoff from Branson’s space tourism company, Virgin Galactic, and was once heralded as a serious rival to Elon Musk’s
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Richard Branson's Virgin Orbit, headquartered in Long Beach, slashing 85% of its workforceRichard Branson's Virgin Orbit, headquartered in Long Beach, will cut 675 jobs, about 85% of its workforce, with the satellite launch company finding it difficult to secure funding three months after a failed mission.
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