- Virgin Orbit stock plunged Friday after the company said it’s cutting nearly all of its staff.
- The satellite-launching company founded by Richard Branson is ceasing operations for the “foreseeable future.”
- The company hasn’t been able to land the funding needed to keep running.
Virgin Orbit shares sank to record lows Friday after the satellite-launching company founded by Richard Branson slashed the size of its workforce as it halts operations.
The company on Thursday said it’s cutting 675 employees, or about 85% of its staff, according to a filing with the US Securities and Exchange Commission.
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