According to audio of the 5 p.m. ET meeting obtained by CNBC, Virgin Orbit has failed to secure funding and will cease operations, laying off nearly the entire workforce.
Virgin Orbit is ceasing operations "for the foreseeable future" after failing to secure a funding lifeline, CEO Dan Hart told employees during an all-hands meeting Thursday afternoon. The company will lay off nearly all of its workforce.
"Unfortunately, we've not been able to secure the funding to provide a clear pa...
