SpaceX To Lay Off 10 Percent Of Its Workforce

Elon Musk SpaceX starship

The company did not comment on the number of layoffs but said in emailed comments that it needs to become a "leaner" organisation for which it would "part ways" with some of its workforce.

"To continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based internet, SpaceX must become a leaner company", according to a statement by the company to the Los Angeles Times. Articles appear on euronews.com for a limited time.

Ars Technica reported that the size and timing of Friday's cuts "may indicate a desire by SpaceX chief executive Elon Musk to reduce costs and cut some of its lower performing employees".

"We are grateful for everything they have accomplished and their commitment to SpaceX's mission".

About 600 of the firm's 6,000-strong workforce are being laid off, with the company blaming "extraordinary hard challenges ahead" for its decision.

SpaceX CEO Elon Musk speaks at a press conference at SpaceX headquarters where he announced the Japanese billionaire chosen by the company to fly around the moon, on September 17, 2018 in Hawthorne, California.

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

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The company is also heavily investing in several different research and development programs.

SpaceX is getting ready to embark on its most historic achievement yet, as it prepares to test launch its astronaut spacecraft, the Crew Dragon, at Kennedy Space Center's launch pad 39A.

Big spaceships and ferrying astronauts Another project that is going to eat up money is Elon Musk's plan to use technology to fly tourists to space and, potentially, one day send humans to Mars.

Just as the Falcon 9 stages were tested for vertical takeoff and landing (VTOL), so will Starship, meaning it won't be taking any long-haul flights.

Straship rocket is a fully reusable vehicle created to take humans and supplies to Mars and also to dramatically cut travel time within Earth, according to an IANS report.

Another $10 billion project called Starlink would create a constellation of satellites to provide affordable broadband internet service.

Back in November, Bloomberg reported that SpaceX had taken out a $250 million loan, which was only half of the $500 million it was allegedly seeking.

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