Home / Business / Spaceon Elon Musk plans to lay off 10 percent of the workforce

Spaceon Elon Musk plans to lay off 10 percent of the workforce



SpaceX, the rocket company led by Elon Musk, plans to lay off about 10 percent of its more than 6,000 employees, a spokesman said Friday.

The company said it will "separate" from some of its employees, as it will face "extraordinarily difficult challenges ahead."

MORE FROM FOXBUSINESS.COM …

"To continue to deliver our customers and succeed in the development of interplanetary spacecraft and a space-based global Internet, SpaceX must become a more agile enterprise," the spokesperson said in an email. "Any of these developments, even when they were tried separately, have bankrupted other organizations. This means that we must separate ourselves from some talented and hardworking members of our team. "

Last month, SpaceX launched its first national security space mission for the US military. UU., Using a Falcon 9 rocket to carry a $ 500 million GPS satellite manufactured by Lockheed Martin. It was the 21st launch of the company in 2018.

However, this is not the first time the company cuts jobs: in June, Musk dismissed seven members of the management team, allegedly due to disagreements over the pace of work of the Starlink satellites.

According to The Wall Street Journal, the company planned to raise $ 500 million in funds, raising its value to $ 30.5 billion.

Musk also made headlines in June at his other company, Tesla, when he announced that he was reducing 9 percent of his employees as part of an organizational restructuring aimed at reducing costs and increasing profits.

CLICK HERE TO OBTAIN THE FOX BUSINESS APP

Hillary Vaughn of FOX Business' contributed to this article


Source link