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VIRGIN ORBIT PAUSING ALL WORK, REPORTEDLY FURLOUGHS STAFF
Techlife News
|March 18, 2023
Virgin Orbit said Thursday it is pausing all operations amid reports that the company is furloughing almost all its staff as part of a bid to seek a funding lifeline.
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The California-based satellite launch company confirmed it's putting all work on hold, but didn't say how long for.
"Virgin Orbit is initiating a company-wide operational pause, effective March 16, 2023, and anticipates providing an update on go-forward operations in the coming weeks," the company said in a statement.
It said the move was "to conserve cash while the company continues to evaluate all available options." The company declined to comment on reports that all but a small number of workers will be temporarily put on unpaid furlough.
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