Virgin Orbit: Sir Richard Branson's rocket company lays off 85% of staff
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Virgin Orbit: Sir Richard Branson's rocket company lays off 85% of staff
BBC:
https://www.bbc.com/news/business-65133099
British billionaire Sir Richard Branson's rocket company Virgin Orbit says it will lay off 85% of staff after failing to secure new investment.
The firm will also cease operations for the foreseeable future, according to media reports.
The firm will also cease operations for the foreseeable future, according to media reports.
Could someone explain to me why the company was so fragile that one unsuccessful launch caused it to implode ? I appreciate that the costs are eye-watering, but surely the business plan and funding must have allowed for such (quite possible) scenarios to happen, dust oneself down and get on with the next, likely successful launch.
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Could someone explain to me why the company was so fragile that one unsuccessful launch caused it to implode ? I appreciate that the costs are eye-watering, but surely the business plan and funding must have allowed for such (quite possible) scenarios to happen, dust oneself down and get on with the next, likely successful launch.
I believe the collapse of the Silicon Valley Bank is being partly blamed for the Virgin Orbit financial collapse as well as the failed launch.
Its strange as I love anything to do with flight and space but Virgin Orbit left me cold, perhaps it was the way it was presented and the over the top hype that somehow seemed more important than the technology, and the Spaceport thing I found annoying.
Its strange as I love anything to do with flight and space but Virgin Orbit left me cold, perhaps it was the way it was presented and the over the top hype that somehow seemed more important than the technology, and the Spaceport thing I found annoying.
