Virgin Orbit ceasing 'operations for the foreseeable future,' laying off 90%
Virgin Orbit is ceasing operations "for the foreseeable future" after failing to secure a funding lifeline, CEO Dan Hart told employees during an all-hands meeting Thursday.
"Unfortunately, we've not been able to secure the funding to provide a clear path for this company," Hart said, according to audio of the 5 p.m. ET meeting obtained by CNBC.
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