PPRuNe Forums - Virgin Orbit: Sir Richard Branson's rocket company lays off 85% of staff

PPRuNe Forums (https://www.pprune.org/)

- Space Flight and Operations (https://www.pprune.org/space-flight-operations-58/)

- - Virgin Orbit: Sir Richard Branson's rocket company lays off 85% of staff (https://www.pprune.org/space-flight-operations/652096-virgin-orbit-sir-richard-bransons-rocket-company-lays-off-85-staff.html)

India Four Two

31st Mar 2023 05:16

Virgin Orbit: Sir Richard Branson's rocket company lays off 85% of staff

BBC:

Quote:

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.

https://www.bbc.com/news/business-65133099

SpringHeeledJack

5th Apr 2023 14:45

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.

what next

5th Apr 2023 17:40

Quote:

Originally Posted by SpringHeeledJack (Post 11415153)

I was asking myself the same question. Especially since his other company, Virgin Galactic, has only performed a single revenue flight in 19 years, whereas Virgin Orbit, in only six years, has had at least three successful revenue flights. Shouldn't it rather be the other way round?

sandringham1

12th Apr 2023 13:05

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.

All times are GMT. The time now is 11:26.