SpaceX to lay off 10 percent of workforce

Sat, 2019-01-12 02:09

LOS ANGELES: SpaceX plans to lay off 10 percent of its more than
6,000 employees, a source familiar with the decision said on
“To continue delivering for our customers and to succeed in
developing interplanetary spacecraft and a global space-based
Internet, SpaceX must become a leaner company,” the
California-based company, headed by Elon Musk, said in a statement
to AFP.
“Either of these developments, even when attempted separately,
have bankrupted other organizations,” it added.
“This means we must part ways with some talented and hardworking
members of our team.”
It added that the trim down was “only due to the extraordinarily
difficult challenges ahead.”
Citing an email sent to employees on Friday, the Los Angeles Times
said the company was offering those affected a minimum of eight
weeks’ pay and other benefits, including career coaching and
resume assistance.
The announcement came as SpaceX on Friday launched a Falcon 9
rocket from Vandenberg Air Force Base in California carrying 10
communications satellites.
Founded by Musk, SpaceX makes most of its money from multibillion
dollar contracts with NASA and satellite launches.
SpaceX in November won authorization from US officials to put
nearly 12,000 satellites into orbit in order to boost cheap,
wireless Internet access by the 2020s.
The Wall Street Journal reported last month that the company was
raising $500 million from investors to help launch its satellite
Internet service.

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Source: FS – All-News-Economy
SpaceX to lay off 10 percent of workforce