March 20, 2019

Elon Musk's SpaceX To Slash 10 Percent Of Staff

13 January 2019, 02:11 | Joann Bryant

Elon Musk posts first glimpse of SpaceX's finished Starship test vehicle

Starship prototype

Elon Musk's Space Exploration Technologies Corp. plans to cut about 10 percent of its workforce, according to people familiar with the matter.

Hawthorne-based SpaceX is offering a minimum of eight weeks' pay and other benefits to those affected, according to an email sent on Friday to employees by SpaceX president Gwynne Shotwell. SpaceX has since confirmed the news, saying in a statement that it must get "leaner" in order to achieve its goals - ones that, it said, "have bankrupted other organizations". It reduced nine percent of its workforce, thus removing several thousand jobs across the company in cost reduction measures.

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's website says it now has about 6,000 employees, meaning a 10 percent reduction would affect roughly 600 people.

"This means we must part ways with some talented and hardworking members of our team", the statement continued.

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

SpaceX, which has developed reusable rockets and is working on Starship for a future anticipated Mars mission, gets most of its income from launching payloads for both private companies and the United States government.

Elon Musk just gave us a look at the first test version of SpaceX's Starship.

The layoffs, a company source said, don't indicate near-term financial problems at the company but rather a redistribution of resources to focus on development of its next-generation launch system and broadband constellation.

Still, the announcement came as SpaceX launched a Falcon 9 rocket from Vandenberg Air Force Base in California on Friday, carrying 10 communications satellites.

Other News

Trending Now

Trump says massive visa overhaul could lead to USA citizenship
Trump campaigned for president on a promise to crack down on immigrants, who he said took jobs away from U.S. citizens. The H-1B visa allows foreigners to work in the United States for three years, with options to renew their stay.

Mayor de Blasio calls on City Council to pass paid-vacation proposal
Those proposals, along with those for universal health care and guaranteed paid leave are still only that - proposals. Councilmember Jumaane Williams said he was optimistic about de Blasio's progressive tone.

Woman Suffers Rare Medical Condition Rendering her Unable to Hear Men's Voices
It has been linked to genetics and can be triggered by certain diseases (for example, Ménière's disease) and viral infections. She added that she believes the recent stress and exhaustion Ms Chen had been under could have contributed to the condition.

Warriors star DeMarcus Cousins considered returning in early December
Cousins still hasn't taken the floor for Golden State this season as he works his way back from a major Achilles injury. Cousins' first game with the Warriors will come on the road against the Los Angeles Clippers .

Rep. Tulsi Gabbard Says She Will Run For President In 2020
Gabbard joins a quickly growing field of Democrats eager to take on President Donald Trump for the presidency. Republican National Committee spokesman Michael Ahrens dismissed Gabbard's chances in a statement on Friday.

Knicks NBA trade rumors: Enes Kanter, Kings, Zach Randolph
Trading Randolph's $11.6 million would give them plenty of space to fit the rest of Kanter's deal. Kanter is due to make $18.6 million this season, while Randolph will be getting $11.6 million.

Saudi Arabia announces rise in oil, gas reserves
Mr Al-Falih played down chatter in the market that Aramco would fund the entire US$70 billion Sabic deal with the bond offering. In December, the Organization of Oil Exporting Countries chose to reduce oil supply by 1.2 million barrels starting January.

Syria says air defences shoot down Israeli missiles
Just half an hour before midnight, sounds of explosions were heard in Damascus, especially in the western part of the city. On that occasion, a Syrian anti-aircraft missile flew into Israeli airspace, and was destroyed by Israeli air defenses.

Italy and Poland want 'new spring' in Europe - Salvini
Hungarian Prime Minister Viktor Orban speaks during the weekly government news conference in Budapest, Hungary, January 10, 2019. He voiced hopes that the Polish and Italian governments can play a guiding role in a European nationalist surge.

Megyn Kelly Finalizes Multi-Million Dollar Contract Settlement With NBC
The backlash to Kelly was swift and immediate, exceeding the outrage she generated for her remarks years ago about Santa's race. But when those stories began to fade, Kelly had trouble attracting an audience in the soft-focus world of morning television.