Virgin Orbit is pausing all impending operations after announcing it is furloughing the majority of its staff in a companywide effort to cut costs and secure investor funding. The company informed its staff of the furloughs at a meeting on Wednesday, telling employees they would receive further information next week,…
Last month, Virgin Orbit ran into trouble when its LauncherOne rocket crashed, destroying seven payloads on board in an attempt to deploy satellites in low Earth orbit. Now, the company suspects that the cause of the anomaly could have been a pesky filter that only cost around $100.
Virgin Investments Limited has pumped $55 million into Virgin Orbit since November of last year, in what is a troubling sign for the fledgling satellite launch company.
