The decision comes after the failure of the first ever satellite mission launched from the UK.
Virgin Orbit is to pause operations from Thursday in an apparent attempt to shore up its finances.Bosses told staff about the move at a meeting on Wednesday, saying a further update would be provided next week.
It comes after the company's failure to launch the first ever satellite mission from UK soil in January. Chief Executive Dan Hart told staff that the furlough would buy Virgin Orbit time to finalise a new investment plan, a source who attended the event told Reuters news agency. It was not clear how long the furlough would last, but Mr Hart said employees would be given more information by the middle of next week.A statement from the company said: "Virgin Orbit is initiating a company-wide operational pause, effective March 16, 2023, and anticipates providing an update on go-forward operations in the coming weeks."
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