Published: Mon, January 14, 2019
Markets | By Otis Pena

SpaceX Layoffs to Affect 10% of Workforce Across US

SpaceX Layoffs to Affect 10% of Workforce Across US

The Los Angeles Times, citing an email sent to employees on Friday, said the company was offering those affected a minimum of eight weeks' pay and other benefits, including career coaching and assistance with resumes.

In annoying the layoffs, SpaceX cited "extraordinarily hard challenges ahead" in achieving its twin goals of developing interplanetary spacecraft as well as establishing a space-based Internet platform.

"This means we must part ways with some talented and hardworking members of our team", the statement continued.

The company earns tens of millions of dollars per launch.

"We are grateful for everything they have accomplished and their commitment to SpaceX's mission", the company continued. "This action is taken only due to the extraordinarily hard challenges ahead and would not otherwise be necessary", it reportedly.

Even with SpaceX's ramp-up of satellite launches - 21 in 2018, up from 18 the year before - it has occasionally cut its workforce. In June, Musk fired seven people in the senior management team over disagreements about the pace of work on the Starlink satellites.

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As reported by a billionaire, the first flight to Mars with a crew and hundreds of passengers would be possible in the middle of the 2020-ies, but on the condition that the development vehicle will be a success.

Also Friday, SpaceX launched a Falcon 9 rocket from Vandenberg Air Force Base in California carrying 10 communications satellites.

Musk previously estimated that the cost of the development of the programme would run the company between $2 (£1.5 billion) and $10 billion (£7.7 billion).

Back in November, Bloomberg reported that SpaceX had taken out a $250 million loan, which was only half of the $500 million it was allegedly seeking.

"Just completed the Assembly of the Starship test rocket on the launch pad SpaceX in Texas".

SpaceX has also embarked on a mission to beam internet services to Earth around the globe through a network of satellites dubbed Starlink, the first set of which will be deployed this year. As the Times noted, Shotwell told CNBC last year that SpaceX has had "many years" of profitability.

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