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XCOR Aerospace lays off employees
Posted: Sun, Jul 9, 2017, 7:49 AM ET (1149 GMT)
XCOR Lynx vehicle illustration (Mike Massee/XCOR) XCOR Aerospace has laid off its remaining employees, but investors and management are still trying to keep the company alive. The company's acting CEO said July 5 that XCOR terminated its employees last Friday, citing "adverse financial conditions," but will retain a small number of critical employees as contractors. The company laid off nearly half of its workforce last year as it suspended work on a suborbital spaceplane to focus on a engine development contract. XCOR is "actively seeking other options" to keep at least some of the company's projects alive.
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