SpaceX To Lay Off 10 Percent Of Its Workforce

Elon Musk shares prototype of SpaceX Starship

Elon Musk shares prototype of SpaceX Starship

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

Some employees of the McGregor test facility were instructed to go home at 4 p.m. Friday and not to return, KWTX has learned. 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". "This means we must part ways with some talented and hardworking members of our team".

SpaceX is making 10% of its workforce redundant - with the tech company saying it needs to become "leaner" if it is to accomplish ambitious projects such as creating a spaceship that can carry astronauts to Mars.

The decision to trim down was "only due to the extraordinarily hard challenges ahead", SpaceX pointed out.

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Straship rocket is a fully reusable vehicle created to take humans and supplies to Mars and also to dramatically cut travel time within Earth, according to an IANS report. It reduced nine percent of its workforce, thus removing several thousand jobs across the company in cost reduction measures.

SpaceX has also embarked on a mission to beam internet services to Earth around the globe through a network of satellites dubbed Starlink, the first set of which will be deployed this year.

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. The firings were related to disagreements over the pace at which the team was developing and testing its Starlink satellites.

Back in November, Bloomberg reported that SpaceX had taken out a $250 million loan, which was only half of the $500 million it was allegedly seeking.

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