Virgin Galactic Streamlines Operations and Cuts Staff to Prioritize Next-Generation Spacecraft
Virgin Galactic has announced a strategic realignment of resources and a workforce reduction as it focuses on the development of its next generation of suborbital spaceplanes, known as the Delta class. The company did not disclose the number of employees being laid off but stated that the layoffs and expense reductions are aimed at conserving funding and reducing reliance on unpredictable capital markets. Virgin Galactic reported having $980 million in cash and equivalents at the end of the second quarter and expects the Delta vehicles to enter service in 2026.