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SpaceX to lay off 10 percent of workforce

ANI  |  California [United States] 

is set to thin down its team by laying off 10 percent of the workforce as it is reeling under some financial pressure. Over 6,000 people work at and it is not clear which division will be affected with the lay off.

According to The Verge, is scheduled to test its Crew Dragon for flying astronauts to the (ISS), launch two Heavies, deploy its first Starlink satellites, and start tests on its Mars-bound Starship.

Amidst this, the company is targeting to become a leaner company and part ways with some of the workforce to handle the financial burden better.

The company makes around USD 2.4 billion a year in revenue. It is now reportedly looking at new sources of cash such as its contract with Japanese billionaire

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, January 12 2019. 13:00 IST