Satellite launch company hunts for funding lifeline following failed attempt from UK soil
Virgin Orbit has paused its operations and furloughed its workforce as it hunts for a funding lifeline., will put all work on hold for at least a week with just a skeleton team remaining at work.
The company’s chief executive, Dan Hart, told staff that putting them on furlough would buy time to finalise a new investment plan, Reuters reported. Staff are expected to be updated next week. The company said: “Virgin Orbit is initiating a company-wide operational pause, effective March 16, 2023, and anticipates providing an update on go-forward operations in the coming weeks.”
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