Thursday, 17 January, 2019

To become "leaner company": SpaceX to lay off 10 percent of workforce

The layoffs will affect about 600 of SpaceX's roughly 6,000 employees. File The layoffs will affect about 600 of SpaceX's roughly 6,000 employees. File
Theresa Hayes | 13 January, 2019, 13:46

Meanwhile, SpaceX is ramping up development of its Big Falcon Rocket, now known as Starship (the spaceship upper stage) and Super Heavy (the first stage).

Elon Musk tweeted saying SpaceX must become a leaner company to succeed in developing interplanetary spacecraft and a global space-based Internet.

In a statement, Elon Musk's firm says it needs to trim costs in order to take on ambitious projects that would have bankrupted other organizations.

The decision to trim down was "only due to the extraordinarily hard challenges ahead", SpaceX pointed out.

After teasing the spaceship earlier this month, Musk posted a picture of the vehicle - dubbed the "test hopper" - in real life on Friday from SpaceX's facility in Boca Chica, Texas.

News of the layoff first surfaced from an email sent by SpaceX President Gwynne Shotwell, who reportedly called the business move "a very hard but necessary decision".

Under the Commercial Crew Program, NASA and industry partners prepare for the next generation of American spacecraft that will launch astronauts to the International Space Station from here, the Space Coast of Florida. The company's valuation rose to $31 billion after initiating a $500 million equity sale.

This isn't the first time the company has made job cuts, however:, In June, Musk fired seven members of the senior management team, reportedlyover disagreements about the pace of work on the Starlink satellites.

SpaceX CEO Elon Musk offered the glimpse of the company's Starship test flight rocket on January 11.

A Japanese billionaire, Yusaku Maezawa, has purchased the first Starship flight around the Moon, which Musk plans for 2023.

SpaceX has approval from the Federal Communications Commission (FCC) to launch a system of nearly 12,000 Starlink satellites to provide global broadband Internet service from space.

Tesla, another one of the companies, also announced redundancies in June past year. However, the launch and satellite initiatives the company is pursuing will each require several billion dollars to complete.