Virgin Orbit fails to secure funding, will cease operations and lay off nearly entire workforce
“The company will eliminate all but 100 positions, amounting to about 90% of the workforce, Hart said, noting the layoffs will affect every team and department. In a securities filing, the company said the layoffs constituted 675 positions, or approximately 85%.” The un profitable startup Armageddon is starting 😢 https://www.cnbc.com/amp/2023/03/30/virgin-orbit-funding-ceasing-operations-layoffs.html
Damn. That’s really sad and unfortunate. There are some really hardworking and smart folks there. Hope they can bounce back off this
Of course they approve a golden parachute safety net for top execs
oof
Beacon of hope for Blind incels ! Virgin got fucked
Virgin orbit is a special case, it’s not a good representative of other start ups This clip sums up well https://youtu.be/XvP7RV2umRU
Other startups have also recently ceased operations. Your point?
Virgin is a complete moonshot (literally)
Yikes