Sir Richard Branson's Virgin Orbit rocket company is laying off 85 per cent of its staff. Reports suggest it is also ceasing also operations for the foreseeable future.
The company is reportedly struggling to secure new funding for future projects. It follows a failed attempt to complete the first ever satellite launch from UK soil earlier this year after it launched from Cornwall.
A public document shows that around 675 staff members will lose their jobs by the end of next week. Those losing their jobs "are located in all areas of the company".
