SpaceX Is Going To Fire Ten Percent Of Its Employees


In business, no one can predict the future, and when it gets tougher to stay in the industry mostly, what companies do is a mass layout of their employees. It seems like SpaceX is also going through that situation because according to some reports it’s been reported that SpaceX has decided to fire 10 percent of its 6000 employees because of lack of funds. SpaceX is one of the most ambitious startups in the space industry which Elon Musk is leading, but it seems like the company spent lots of its capital and now they have decided to cut the cost by firing its employees. A few months ago the company revealed that they had earned a good amount of profit, but most of these have already been invested in the ongoing projects like Interplanetary Rockets or a Space-based internet. Many experts are predicting that there shouldn’t have been this situation on the company if they had correctly estimated about the actual cost of these ambitious projects.

The company while releasing official statement revealed that they are thinking to become a leaner company which will prevent them from getting into bankruptcy. The following is the statement which company officially released regarding this matter:-  “To provide services to our customers and to succeed in Interplanetary Spacecraft and Global Space-based internet the company has decided to lay out some of its employees. This means that the company will have to take hard decisions of firing those hard-working employees to  survive in future and we will always be grateful for their services.”

Even though as a customer many people are in the awe after the company decided to lay out that much of its employees, but according to some experts they saw it coming. Because according to them even though SpaceX was making some profits it was not enough to continue such type of ambitious projects, and that’s why this decision was tough but also crucial for the SpaceX existence.

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Kathleen Kinder
Kathleen has been working with dailyheraldbusiness since a long time and her exquisite language skills along with the valuable knowledge she possesses about the field of science, business and technology helps her grow and attract more readers and also establish herself as an important asset to this Online News channel. Her great interest in those lies in discovering the impact of latest technology on various segments of the global economy. A post-graduate degree holder in media loves writing and shines through her content on consumer lifestyle.