Published: Mon, January 14, 2019
Money | By Ralph Mccoy

SpaceX laying off 10 percent of its workforce

SpaceX laying off 10 percent of its workforce

SpaceX now launches regular supply missions to the astronauts living at the International Space Station, using its Falcon 9 rocket and Dragon cargo capsule. "Either of these developments, even when attempted separately, have bankrupted other organisations", the company said in a statement to Gizmodo. "This means we must part ways with some talented and hardworking members of our team". "This action is taken only due to the extraordinarily hard challenges ahead and would not otherwise be necessary", it reportedly.

This isn't the first time SpaceX has made job cuts. A crewed Dragon spacecraft is scheduled to send USA astronauts to the ISS later this year. In June, Musk fired seven people in the senior management team over disagreements about the pace of work on the Starlink satellites. The first uncrewed test flight was delayed due to the partial government shutdown and is slated for some time in February. SpaceX also in 2014 laid off a significant number of workers, with two former structural technicians later suing the company over claims that SpaceX violated labour laws by failing to properly notify them beforehand.

Elon Musk said last September that he expects the development of the Super Heavy and Starship (an ultra-powerful fully-reusable launch vehicle and spacecraft system) to cost between $2 billion and $10 billion.

"Just completed the Assembly of the Starship test rocket on the launch pad SpaceX in Texas".

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Company CEO Elon Musk has said that he expects the first hops to be within the next four weeks, but that is likely an optimistic schedule.

Another $10bn (£7.7bn) project called Starlink would create a constellation of satellites to provide affordable broadband internet service.

Previously, the private space company said that it has been profitable for years, thanks to the lucrative contracts that it struck from clients that include the US Air Force and NASA.

At the end of previous year, SpaceX valuation to $30.5 billion after initiating a $500 million equity sale, according to the Wall Street Journal.

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