Virgin Orbit burns up in uncontrolled descent

Virgin Orbit is laying off around 85% of its workforce in order to further reduce expenses, after the troubled space company said it was unable to secure additional funding to keep it afloat.
The news, which Virgin Orbit filed with the U.S. Securities and Exchange Commission Thursday, comes just two weeks after the company furloughed all employees and entered an “operational pause” in order to find more cash. There were talks that Matthew Brown, a Texas-based venture capitalist, may come to the rescue, but those talks dissolved over the last weekend. Today’s filing confirms that Virgin was una

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