SpaceX, the rocket company led by Elon Musk, plans to lay off about 10 percent of its more than 6,000 employees, a spokesperson said on Monday.
The company said it will "separate" with some of its employees as it will face "extraordinarily difficult challenges."
"To continue to provide for our customers and to succeed in developing an interplanetary spacecraft and a global space-based Internet, SpaceX must become a leaner company," said the spokesperson in an e-mail. "One of these developments, even if tried separately, has bankrupted other organizations, which means we have to separate with some talented and hard-working members of our team."
Last month, SpaceX launched its first space mission national security for the US military, using a Falcon 9 rocket to transport a $ 500 million GPS satellite made by Lockheed Martin. It was the twenty-first launch of the company in 201
This is not the first time the company has made job cuts, however: in June, Musk fired seven members of the senior management team, reportedly disagreements on the rhythm of work the Starlink satellites.
According to the Wall Street Journal, the company was planning to raise $ 500 million in funding, bringing its value to $ 30.5 billion.
Musk also made news in June in his other company, Tesla, when he announced that he was cutting 9% of his employees as part of an organizational restructuring aimed at reducing costs and increasing profits.
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FOX Business & # 39; Hillary Vaughn contributed this article