Elon Musk's SpaceX said to be planning to cut 10 per cent of workforce

Elon Musk's SpaceX will lay off about 10 percent of its more than 6,000 employees, a source familiar with the matter said on Friday. The company did not comment on the number of layoffs but said in emailed comments that it needs to become a "leaner" organisation for which it would "part ways" with some of its workforce. "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", a SpaceX spokesman said. SpaceX launched its first rocket of 2019 early Friday. It has a busy year ahead, with a critical demonstration flight scheduled for February for its Crew Dragon spacecraft that will eventually carry American astronauts to the International Space Station. Last week, SpaceX disclosed in a regulatory filing that it had sold $273 million in equity as part of plans to raise a total of $500 million. The Wall Street Journal reported in December that the rocket company was planning to raise the funds at a $30.5 billion valuation.

Read more: https://news.yahoo.com/elon-musks-spacex...

Similar news

Elon Musk's Boring Co. is unveiling its tunnel, and sleepy Hawthorne is ready 0 0 0
Watch Pixar’s Bao, Which Just Made the Oscar Shortlist 0 0 0
China's Xi is about to deliver a speech that could have major consequences for the trade war 0 0 0
'They've got more video tapes': Trump's newest chief of staff once feared there could be more bombshell 'Hollywood Access'-style recordings of Trump 0 0 0
I Tried $100 Worth Of H&M Beauty Products & Here's What I Thought 0 0 0
Police: Students Made 'Horrifying' Mock Shooting Videos 0 0 0
J&J moves to limit impact of Reuters report on asbestos in Baby Powder 0 0 0
Economic parity between the sexes looks stagnant: report 0 0 0
17 cool last-minute gifts for the music lover in your life 0 0 0
Cramer Remix: Johnson & Johnson has to stop dropping for the market to head higher 0 0 0