Elon Musk’s Bad Week Gets Worse as SpaceX Lays off 600 People

SpaceX, the rocket company founded by Tesla billionaire Elon Musk, is laying off 10 percent of its 6,000-employee workforce. The layoffs are part of a move to streamline the business and cut costs. “SpaceX must become a leaner company,” President Gwynne Shotwell wrote in a Friday email. The news was first reported by the Los Angeles Times. ‘Extraordinarily Difficult Challenges Ahead’ Shotwell explained: This means we must part ways with some talented and hardworking members of our team. This action is taken only due to the extraordinarily difficult challenges ahead and would not otherwise be necessary. The company is providing a minimum of eight weeks’ pay and other benefits to the fired workers. SpaceX is streamlining to prepare for “difficult challenges ahead.” (Twitter) Investors Dazzled by SpaceX Elon Musk — the billionaire founder of electric-car company Tesla — launched SpaceX in 2002 to make space travel accessible to everyday people.…

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