XCOR Aerospace lays off employees
Posted: Sun, Jul 9, 2017, 7:49 AM ET (1149 GMT)
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.
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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