Musk’s SpaceX is said to plan cutting about 10% of workforce

Andrew Cummings
January 14, 2019

The company said it will "part ways" with some of its employees as it faces "extraordinarily hard challenges ahead".

The company cited global space-based Internet and developing interplanetary spacecraft as projects that necessitate the layoff.

Back in September, Musk revealed the new design of the Big Falcon Rocket, now simply called Starship, and confessed he wanted to emulate the design of the comic book rocket.

Others said the sleek design and prominent fins closely resemble spaceships depicted in 1950s/60s films, Wallace and Gromit and even Toy Story. SpaceX reportedly plans to launch the starship to suborbital heights to prove the viability of its systems.

The company is also heavily investing in several different research and development programs.

SpaceX is now preparing to launch astronauts to the International Space Station through a contract with NASA - after years of uncrewed re-supply missions to the agency's space station. "This means we must part ways with some talented and hardworking members of our team".

In November, the company won authorisation from United States officials to put almost 12,000 satellites into orbit.

SpaceX founder Musk shared the first real images of the prototype from its Texas launch site and reassured his followers it is "not a rendering". The company also took on about $250 million in debt past year in its first loan sale, according to the Wall Street Journal.

Serial entrepreneur Musk has risen to prominence with a series of ambitious ventures, especially Tesla, which has boosted production of its Model 3 electric auto and has continued to enjoy strong demand for the vehicle.

Other Musk ventures include OpenAI, Neuralink and the Boring Co., which focuses on infrastructure and tunnels. A manned mission is also set to follow two years later. Following that, the WSJ reported that SpaceX was working on raising $500 million as part of its aforementioned space Internet project. Musk added that the stainless mirror-like finish of the Starship will look like liquid silver as it reenters the atmosphere.

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