Virgin Orbit, the innovative space launch company founded by Richard Branson, announced today that it is furloughing nearly a quarter of its workforce in response to the economic downturn precipitated by the Covid-19 pandemic.

As the world continues to grapple with the economic impacts of Covid-19, Virgin Orbit is not immune. The company, founded in 2017, has announced today that it is furloughing approximately one-quarter of its 400 staff members. This is an unfortunate but necessary step in order to remain financially secure and to ensure that the company can continue its groundbreaking mission of providing small satellite launch services.

The furloughed employees will receive a salary and benefits through the end of June, and Virgin Orbit will continue to provide additional support to those affected. Virgin Orbit CEO Dan Hart said that the company is “committed to supporting our furloughed employees and doing everything we can to bring them back as soon as possible.”

This news is a stark reminder of the economic toll of the pandemic, even on companies that have made significant advancements in space exploration. We can only hope that Virgin Orbit will be able to weather the storm and continue to make its innovative contributions to the

Read Full Article Here

source: Phys.org