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The Latest Breaking News from Virgin Orbit

Virgin Orbit's sudden collapse is the latest in a series of high-risk failures by Richard Branson

The satellite deployment startup founded by Branson is letting go of the bulk of its staff citing an 'inability to secure meaningful funding'.

Fortune

Richard Branson's Virgin Orbit slashing 85% of its workforce

Richard Branson’s Virgin Orbit is letting go of almost its entire work force with the satellite launch company finding it difficult to secure funding three months after a failed mission

The Independent UK

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

It comes after Sir Richard Branson’s US satellite launch firm attempt to launching a rocket into orbit from Spaceport Cornwall ended in failure earlier this year

Birmingham Post

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

Virgin Orbit said that the layoffs will impact around 675 employees across all areas of the company with equates to around 85% of staff

Daily Mirror

Virgin Orbit cuts 85% of workforce after failing to secure fresh funding

Decision raises fears that company founded by Sir Richard Branson may be on verge of collapse

The Guardian - UK

Virgin Orbit: Richard Branson's rocket company to lay off 85 per cent of staff

It follows a failed attempt to complete the first ever satellite launch from UK soil earlier this year

Wales Online

Richard Branson loses £1.5 billion from plummeting Virgin Orbit shares amid funding crisis

Sir Richard Branson has lost a staggering £1.5 billion from his stake in Virgin Orbit over the past year after the company’s share price plummeted more than 95%.

Evening Standard

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Virgin Orbit ceases operations after failing to find funding

Virgin Orbit Holdings Inc., the satellite-launch company tied to British billionaire Richard Branson, is ceasing operations indefinitely, succumbing to growing cash-crunch pressures that have paralyzed startups in many emerging technologies.

Tribune News Service

Virgin Orbit ceasing operations 'for the foreseeable future:' report

Virgin Orbit is ceasing operations "for the foreseeable future" and laying off about 90% of its workforce, according to CNBC.

Space

Virgin Orbit extends employee furlough after finance deal falls through: report

Talks with two separate buyers collapsed over the weekend as Virgin Orbit seeks more cash to continue launch operations, a media report suggests.

Space

Billionaire Richard Branson's Space Business Just Found a Game-Changer

Virgin Orbit appears closer to taking off.

The Street

Virgin Orbit restarts operations with 'small' team as it works on finance deal: reports

Launch company Virgin Orbit is bringing back some of its furloughed employees after putting them on leave last week, according to media reports.

Space

Virgin Orbit eyes options as it works to generate cash flow: report

Launch company Virgin Orbit is engaging companies for discussions after furloughing most of its staff last week, according to media reports.

Space

Spaceport Cornwall focused on space cluster growth as Virgin Orbit pauses operations

Richard Branson’s US satellite launch firm is working to secure additional funding for future launches and has furloughed staff, according to reports

Birmingham Post

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Los Angeles Times

Richard Branson's rocket-launch firm Virgin Orbit pauses operations, furloughs staff

British billionaire Richard Branson's rocket-launch firm Virgin Orbit has paused operations as the company searches for more funding.

The Independent UK

Virgin Orbit ‘pauses’ operations in wake of UK space launch failure

Staff reportedly furloughed as California firm announces ‘operational pause’

The Independent UK

Virgin Orbit pausing all work, reportedly furloughs staff

Virgin Orbit says it is pausing all operations amid reports that the company is furloughing almost all its staff as part of a bid to seek a funding lifeline

The Independent UK

Richard Branson’s Virgin Orbit pauses operations while it seeks extra funds

The satellite launch company has reportedly furloughed staff and is working to secure new funding.

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Inverse

European Countries Are Racing Toward the Continent's First Satellite Launch

European countries are now competing to make launch history and gain an edge in the commercial space industry.

The Guardian - UK

Virgin Orbit stops operations and furloughs most staff

Satellite launch company hunts for funding lifeline following failed attempt from UK soil

Daily Mirror

Richard Branson's Virgin Orbit pauses space operations with 'staff set to be furloughed'

A spokesperson for Virgin Orbit confirmed the "operational pause" in a statement, but did not comment on the furloughs

Wales Online

Virgin Orbit to stop operations today and furlough almost all staff

It comes after the failed first launch of a satellite mission on UK soil in January

Tribune News Service

Virgin Orbit pauses operations, enacts furloughs for nearly all employees

Virgin Orbit hit pause Wednesday as the aerospace company reportedly seeks funding to keep it afloat.

The Guardian - UK

UK now seen as ‘toxic’ for satellite launches, MPs told

After Virgin Orbit’s failed mission, Commons committee hears complaints about regulator

Wales Online

Reason for failure of Cornish rocket launch has been revealed

The rocket components and payload fell back to Earth and into the Atlantic Ocean

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