Virgin Orbit cuts 85% of workforce

Richard Branson’s Virgin Orbit is letting go of almost its entire work force with the satellite launch company finding it difficult to secure funding three months after a failed mission. The company will cut 675 jobs, about 85% of its workforce, according to a Friday filing with the U.S. Securities and Exchange Commission. Earlier this month Virgin Orbit said it was pausing all operations amid reports of possible job cuts. The company confirmed that it was putting all work on hold, but didn’t say for how long.