SpaceX is laying off 10 percent of its workforce

Rachel Kraus

After a banner year of successful rocket launches for Elon Musk's private space flight company SpaceX, so far 2019 sees the company coming back down to Earth hard and fast.

The company announced on Friday that it would be laying off 10 percent of its workforce, according to Reuters. SpaceX currently has about 6,000 employees, so that 10 percent layoff number means that roughly 600 people will  lose their jobs.

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The company cited the need to become "leaner" as the reason for the layoffs. It told Reuters that in order to achieve the dual vision of "interplanetary space craft and global space-based internet," it needed to cut costs to avoid bankruptcy. Read more...

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