Musk's SpaceX Is Said to Plan Cutting About 10% of Workforce

SpaceX's prototype starship is being called

Elon Musk's rocket company SpaceX will reduce its workforce by about 10% of the company's more than 6,000 employees, it said on Friday.

Speaking about the employees who are being laid off, SpaceX said, "We are grateful for everything they have accomplished and their commitment to SpaceX's mission". The first flight with astronauts aboard is expected in the June timeframe.

The Starship vehicle was formerly known as the Big Falcon Rocket (BFR), a fully reusable vehicle created to take humans and supplies to Mars and also to dramatically cut travel time within Earth.

The Wall Street Journal reported in December that the rocket company was planning to raise the funds at a $30.5 billion valuation.

Some investors, the newspaper reported, "expressed misgivings about the company's record of burning through cash and its experience with high-profile accidents, which have previously led to dips in revenue". Musk dug it up and reposted saying that this is pretty much how the Starship Hopper, the rocket that will test the systems for the interplanetary Starship, will work.


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.

Founded in 2002, SpaceX has racked up a string of launch successes, punctuated by only a few failures over the past 16 years.

Formerly known as the Big Falcon Rocket, SpaceX's super heavy-lift vehicle looks to be ready for blast off.

SpaceX is financially healthy and was recently valued at $30bn (£23bn).

SpaceX makes most of its money from multibillion-dollar contracts with NASA and satellite launches.

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