SpaceX is trimming back 10 percent of its workforce in strategic realignment

12 January, 2019, 18:42 | Author: Regina Silva
  • Musk shares first look of SpaceX 'Starship'

Elon Musk said on Friday that his company, SpaceX, had completed the installation of a Starship reusable space-rocket system launch vehicle for a suborbital test flight.

A company source says SpaceX remains financially strong and can continue to "manufacture and launch at a reliable cadence in the years ahead".

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".

Last summer, the company fired some senior managers at the company's Redmond, Washington, office, because of disagreements over the pacing of the development and testing of its Starlink satellite programme.

The SpaceX founder shared the first real images of the prototype from its Texas launch site, telling Twitter followers it is "not a rendering".

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Last month, SpaceX launched its first national security space mission for the USA military, using a Falcon 9 rocket to carry a $500 million Global Positioning System satellite made by Lockheed Martin.

According to The Wall Street Journal, the company planned to raise $500 million in funding, pushing its value to $30.5 billion.

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".

The orbital Starship will be similar to the Falcon rockets in that there will be two stages: the Super Heavy booster that will land back on Earth after getting the Starship away from Earth's gravitational pull, and then the Starship that will take people to Mars. Founded by Musk, SpaceX makes most of its money from multibillion dollar contracts with NASA and satellite launches.

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