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Birmingham Post

Technology

Andrew Arthur

Virgin Orbit cuts 675 jobs as it races to avoid collapse - report

Virgin Orbit Sir Richard Branson Cornwall Cornwall Council Spaceport Cornwall United States

Virgin Orbit is set to cut 675 jobs – about 85% of its workforce – after failing to secure new funding.

Sir Richard Branson’s US satellite launch firm is racing to seal last-minute investment to stop the firm from collapsing, according to a Financial Times report.

The entrepreneur is set to inject almost £9m to go towards severance costs, after the company announced earlier this month it would be pausing its operations.

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