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profishingrods.com January 24, 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.



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