16.03.2023 08:01 Uhr, Quelle: Engadget

Virgin Orbit furloughs most employees and pauses operations for a week

Satellite launching company Virgin Orbit is starting an "operational pause" and furloughing most employees except for a skeleton crew, CNBC has reported. The company is reportedly seeking new investors to relieve financial pressure and plans to give "an update on go-forward operations in the coming weeks," a spokesperson said in a statement. Companies like SpaceX launch heavy rockets from the ground to get satellite payloads in orbit. However, Virgin Orbit carries smaller rockets to a height of about 35,000 feet on the wing of a Boeing 747, reducing fuel required. Earlier this year, it attempted to launch nine satellites into low-Earth orbit from its UK base for the time. Unfortunately, the mission failed — reportedly due to a dislodged fuel filter. That setback came on top of existing financial problems, as the company has seen its stock drop precipitously from its debut in December of 2021. It reported a loss of $49.2 million in its last fiscal quarter, as it burned money with taking in any

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