Richard Branson's Virgin Orbit Holdings in a U.S. regulatory filing on Monday said there is 'substantial doubt' its cash position will allow it to continue operating for at least the next 12 months.
The Virgin Orbit building is seen in Long Beach, California, U.S., March 22, 2023. REUTERS/Mike Blakein a U.S. regulatory filing on Monday said there is "substantial doubt" its cash position will allow it to continue operating for at least the next 12 months.
Virgin Orbit's statement came in a notice explaining why it had yet to file its annual 2022 report. It attributed the delay to "potential fundraising transactions" and limited resources and staff amid an "operational pause and workforce reduction." Unable to secure new funds, Virgin Orbit on Thursday moved to lay off roughly 85% of its workforce, or about 675 employees.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
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.
Weiterlesen »
Pale Blue Successfully Operates its Water-Based Propulsion System in OrbitNew in-space propulsion techniques seem to be popping out of the woodwork. The level of innovation behind moving things around in space is astounding, and now a company from Japan has just hit a significant milestone. Pale Blue, which I assumed was named as a nod to a beloved Carl Sagan book, recently successfully tested … Continue reading 'Pale Blue Successfully Operates its Water-Based Propulsion System in Orbit'
Weiterlesen »
China Constructing Huge Megaconstellation in OrbitChina's space program is getting ready to launch the first satellites of its own broadband-beaming mega constellation, SpaceNews reports.
Weiterlesen »
Why will NASA's Artemis 2 only fly around the moon, not orbit or land?There's a very good reason.
Weiterlesen »
SpaceX's Starship mega-rocket could finally launch into orbit in the coming daysIf all goes to plan, Starship will overtake NASA's Space Launch System to become the world's most powerful operational rocket.
Weiterlesen »
China's Space Pioneer Becomes First Private Company to Reach Orbit During Debut LaunchThe company is now the first in China to send a liquid fueled rocket to space, in yet another sign of the country's emerging role in the spaceflight economy.
Weiterlesen »