By using this site, you agree to the Privacy Policy and Terms Of Use.
Accept
WhatsNew2DayWhatsNew2Day
  • Home
  • Australia
  • Business
  • Economy
  • Entertainment
  • Gaming
  • Health
  • Lifestyle
  • Science
  • Sports
  • Tech
  • US
  • World
Reading: Virgin Orbit halts operations, enacts furloughs for nearly all employees
Share
Aa
WhatsNew2DayWhatsNew2Day
Aa
  • Home
  • Contact
  • About us
  • Privacy Policy
  • Home
  • Australia
  • Business
  • Economy
  • Entertainment
  • Gaming
  • Health
  • Lifestyle
  • Science
  • Sports
  • Tech
  • US
  • World
Follow US
© 2022 WhatsNew2Day News Network. All Rights Reserved.
WhatsNew2Day > News > Virgin Orbit halts operations, enacts furloughs for nearly all employees
News

Virgin Orbit halts operations, enacts furloughs for nearly all employees

Last updated: 2023/03/15 at 8:14 PM
Jacky 1 week ago
Share
In this image released by Virgin Galactic, an artist's impression of a Virgin Galactic passenger spacecraft is seen, launched on September 27, 2004 in London.
SHARE

Virgin Orbit went on hiatus on Wednesday as the aerospace company reportedly seeks funding to keep it afloat.

Company executives told staff in a 5 p.m. “all hands on deck” meeting that operations closed for a weekduring which time nearly all workers will be furloughed without pay.

Furloughed workers will be allowed to collect PTO pay to make ends meet, according to CNBC, which broke the story, citing sources who attended that meeting.

The company, which launched in 2017, is a satellite service that operates within the Virgin Group.

In this image released by Virgin Galactic, an artist’s impression of a Virgin Galactic passenger spacecraft is seen, launched on September 27, 2004 in London. (Getty Images/Getty Images)

Virgin Orbit said it expects to update employees on the status of the company after the middle of next week. The company’s share prices, which have been falling since the close of 2021, fell 10% on Wednesday.

The company bills himself as “the leading dedicated small-satellite launch service,” stating that it has “a mission to open space for everyone.”

Tech job losses have been rampant in 2023. Meta, which owns Facebook and Instagram, announced this week that it planned to lay off more than 10,000 employees in the coming months. Spotify, Twilio and Google parent company Alphabet have also parted ways with thousands of workers in recent months.

( Meta will lay off more than 10,000 employees, says Mark Zuckerberg )

Virgin Orbit was founded by billionaire businessman Richard Branson, whose Virgin Galactic competes with civilian space programs run by billionaires Elon Musk and Jeff Bezos.

The mood has been considerably lighter at Virgin Orbit in recent days. On March 2, the company celebrated its birthday on Twitter.

“Cue the confetti, today is our birthday!” they wrote. “On this day, 6 years ago, we officially established our name, and the rest is history. We’ve come this far.



Source link

You Might Also Like

Factor[e] Ventures launches Africa-focused venture studio

Opening the Door for Anti-Cancer Drugs: The Secret Recipe for Limonoids

Donovan Mitchell Admired by Twitter as Cavaliers Beat Mikal Bridges, Nets

Bronx woman, 38, found dead in bed, likely beaten to death

Jenson Button’s ex-wife’s sister says she is ‘very concerned’ after her brother was arrested

TAGGED: employees, Enacts, furloughs, halts, operations, orbit, Virgin
Jacky March 15, 2023
Share this Article
Facebook Twitter Email Print
Share
Previous Article Looking ahead: Diddy, 53, is the latest person to express interest in buying a majority stake in BET Media Group, joining Tyler Perry and Byron Allen on Paramount's short list of potential buyers.  Pictured in Atlanta last year ‘It’s time for BET to go back to black ownership’: Diddy expresses interest in buying BET
Next Article The incident was revealed in a research paper for the release of GPT-4, the latest version of ChatGPT, the advanced software that can have human-like conversations. ChatGPT bypassed a security check… pretending to be a blind person

Latest

From recruitment to retention: how Upwardly Paved Path can help you build a successful team
From recruitment to retention: how Upwardly Paved Path can help you build a successful team
Gaming
Factor[e] Ventures launches Africa-focused venture studio
Factor[e] Ventures launches Africa-focused venture studio
News
Opening the Door for Anti-Cancer Drugs: The Secret Recipe for Limonoids
Opening the Door for Anti-Cancer Drugs: The Secret Recipe for Limonoids
News
Zara McDermott’s transformation since Love Island as she opens up on fitness journey
Zara McDermott’s transformation since Love Island as she opens up on fitness journey
Tech
What is Pokémon Infinite Fusion? How to play Pokémon Infinite Fusion
What is Pokémon Infinite Fusion? How to play Pokémon Infinite Fusion
Science
Donovan Mitchell Admired by Twitter as Cavaliers Beat Mikal Bridges, Nets
Donovan Mitchell Admired by Twitter as Cavaliers Beat Mikal Bridges, Nets
News

nba 2k23 mt

© WhatsNew2Day News Network. All Rights Reserved. Email: contact@whatsnew2day.com

  • Home
  • Contact
  • About us
  • Privacy Policy

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?