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Daily Mirror
Daily Mirror
Business
Ruby Flanagan

Richard Branson’s Virgin Orbit lays off 85% of staff and ceases operations

Virgin Orbit Richard Branson Dan Hart Mirror Money

Virgin Orbit, a rocket company owned by British billionaire Sir Richard Branson, will lay off 85% of its staff - equivalent to 675 employees - after failing to secure new investment.

The company will also cease operations for the foreseeable, according to reports by CNBC News.

It comes weeks after the rocket company suspended its operations in an effort to stabilise its finances.

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