[arista]

[Around 675 employees will be laid off across
"all areas" of Sir Richard Branson's Virgin Orbit
after funding talks collapsed last week,
prompting the British billionaire to
inject millions into the company.]


[Following news of the layoffs, shares in the
company plummeted by 38% in after-hours
trading in New York.

The staffing cuts will impact around
675 employees across "all areas of the company",
Virgin Orbit said in a regulatory filing,
adding that other total costs are expected
to reach just over $15m (£12.1m).]


https://news.sky.com/story/virgin-or...uture-12846289