Advertisement
Friday, May 27, 2022
Outlook.com
Outlook.com

SpaceX To Lay Off 10% Of Workforce Due To 'Difficult Challenges'

SpaceX would lay off 10 per cent of its roughly 6,000-person workforce as the US-based private spaceflight company attempts to get two expensive projects off the ground.

SpaceX To Lay Off 10% Of Workforce Due To 'Difficult Challenges'
| File Photo
SpaceX To Lay Off 10% Of Workforce Due To 'Difficult Challenges'
outlookindia.com
2019-01-12T14:35:16+05:30

SpaceX would lay off 10 per cent of its roughly 6,000-person workforce as the US-based private spaceflight company attempts to get two expensive projects off the ground.

"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," the Elon Musk-led company was quoted as saying in a statement on Friday by CNN.

"This action is taken only due to the extraordinarily difficult challenges ahead and would not otherwise be necessary," the statement added.

SpaceX has a booming business but its plans are very ambitious. While it has a contract with NASA to deliver cargo to the International Space Station (ISS), the company is now planning to start flying astronauts to the ISS for NASA sometime this year.

In September, Musk estimated SpaceX would spend between $2 billion and $10 billion developing an ultra-powerful spaceship and rocket system, recently renamed Starship and Super Heavy.

SpaceX also plans to use the technology to fly tourists to space and, potentially, one day send humans to Mars, CNN said.

Musk on Thursday offered a glimpse of the company's Starship test flight rocket, dubbed the "Hopper".

SpaceX will conduct a "hopper test" of its Mars spaceship prototype as early as next month, according to Musk, The Los Angeles Times reported.

The company is also developing a constellation of satellites that could one day beam high-speed Internet down to the Earth.

SpaceX was recently valued at $30.5 billion after initiating a $500 million equity sale in December. The company also took on about $250 million in debt last year in its first loan sale, according to the Wall Street Journal.

But SpaceX's new products are expected to cost billions of dollars to develop.

IANS

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement