Virgin Orbit Extends Workers' Furlough After Reportedly Failing to Secure Rescue Deal

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Virgin Orbit Extends Workers' Furlough After Reportedly Failing to Secure Rescue Deal
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Richard Branson's private space company was forced to halt its operations following a failed launch attempt earlier this year that triggered financial turmoil.

based on a company-wide email from CEO Dan Hart. “Our investment discussions have been very dynamic over the past few days, they are ongoing, and not yet at a stage where we can provide a fulsome update,” Hart is quoted as saying in the email.that they would be able to resume operations soon and bring back some employees, even taunting the idea of planning another launch. Virgin Orbit was reportedly on the verge of closing a $200 million deal with venture capital investor Matthew Brown.

Virgin Orbit was supposed to host an all-hands for its employees on Monday to update them on the status of the company, but that meeting has been pushed to no earlier than Thursday, according to the company email that was viewed by CNBC.Take up to 70% off at Lenovo's Spring Clearance sale, including a wide range of laptops, monitors, and tablets. Take an extra 15% off with the promo code.

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Virgin Orbit extends worker furlough, continues funding talks -CEOVirgin Orbit extends worker furlough, continues funding talks -CEOBillionaire Richard Branson's cash-strapped Virgin Orbit Holdings will extend an unpaid furlough for most of its employees as talks seeking new funding continue, the company's chief executive said in an email to employees on Monday.
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