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SpaceX to Lay off 10% of Workers Due to ‘Difficult Challenges’

But SpaceX's new products are expected to cost billions of dollars to develop

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SpaceX to lay off 10% of workers due to 'difficult challenges'. VOA

As SpaceX attempts to get two expensive projects off the ground, the US-based private spaceflight company said it would lay off 10 per cent of its roughly 6,000-person workforce.
“To continue delivering for our customers and to succeed in developing interplanetary spacecraft and a global space-based Internet, SpaceX must become a leaner company,” the Elon Musk-led company was quoted as saying in a statement on Friday by CNN.

“This action is taken only due to the extraordinarily difficult challenges ahead and would not otherwise be necessary,” the statement added.

SpaceX has a booming business but its plans are very ambitious. While it has a contract with NASA to deliver cargo to the International Space Station (ISS), the company is now planning to start flying astronauts to the ISS for NASA sometime this year.

In September, Musk estimated SpaceX would spend between $2 billion and $10 billion developing an ultra-powerful spaceship and rocket system, recently renamed Starship and Super Heavy.

SpaceX also plans to use the technology to fly tourists to space and, potentially, one day send humans to Mars, CNN said.

Elon Musk, spacex
SpaceX CEO Elon Musk. IANS

Musk on Thursday offered a glimpse of the company’s Starship test flight rocket, dubbed the “Hopper”.

SpaceX will conduct a “hopper test” of its Mars spaceship prototype as early as next month, acording to Musk, The Los Angeles Times reported.

The company is also developing a constellation of satellites that could one day beam high-speed Internet down to the Earth.

Also Read- Sony to Introduce a Fresh Strategy For its Mobile Division

SpaceX was recently valued at $30.5 billion after initiating a $500 million equity sale in December. The company also took on about $250 million in debt last year in its first loan sale, according to the Wall Street Journal.

But SpaceX’s new products are expected to cost billions of dollars to develop. (IANS)

Next Story

Space X Crew Capsule Successfully Docks at International Space Station

NASA has awarded millions of dollars to Space X and Boeing to design and operate a capsule to launch astronauts into orbit from American soil some time this year.

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In this image taken from NASA Television, SpaceX's new crew capsule approaches just before docking at the International Space Station, March 3, 2019. VOA

The first American commercially built-and-operated crew spacecraft in eight years docked successfully Sunday at the International Space Station.

There was, however, no crew aboard the spacecraft, just a test dummy named Ripley, in a nod to the lead character in the Alien movies.

The docking was carried out autonomously by the Crew Dragon capsule, as the three astronauts on board the International Space Station watched.

The Space X Crew Dragon capsule lifted off atop a Falcon 9 rocket early Saturday from Florida’s Kennedy Space Center.

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Currently, America relies on Russia to launch astronauts to the space station. Pixabay

The Dragon brought supplies and test equipment to the space station where it will spend five days as astronauts conduct tests and inspect the Dragon’s cabin.

NASA has awarded millions of dollars to Space X and Boeing to design and operate a capsule to launch astronauts into orbit from American soil some time this year.

It is not immediately clear whether that goal will be reached.

Space X is entrepreneur Elon Musk’s company. Musk is also the CEO of electric carmaker Tesla.

Also Read: U.S. President Donald Trump Claims, Saving “Hundreds of Millions of Dollars” By Cancelling Drills With South Korea

Currently, America relies on Russia to launch astronauts to the space station.

Russia charges about $80 million per ticket. (VOA)