San Francisco, Aug 5 (Ians) Struggling space firm Astra has reduced its overall workforce by approximately 25 per cent, including a reduction of approximately 70 employees.
The affected employees primarily supported the company’s launch, Sg&a, and shared services functions.
Astra Space announced a strategic reallocation of its workforce from its Launch Services organisation to its Astra Spacecraft Engines business to support its growing customer base and order backlog of its spacecraft engines.
Astra last announced 278 cumulative committed orders of the Astra Spacecraft Engine, representing approximately $77 million of contract value.
In support of the Astra Spacecraft Engine business, Astra has reallocated approximately 50 engineering and manufacturing personnel from Launch Services to Space Products, it said in a statement.
“We are intensely focused on delivering on our commitments to our customers, which includes ensuring we have sufficient resources and an adequate financial runway to execute on our near-term opportunities,” said Chris Kemp, Founder, Chairman and CEO.
The affected employees primarily supported the company’s launch, Sg&a, and shared services functions.
Astra Space announced a strategic reallocation of its workforce from its Launch Services organisation to its Astra Spacecraft Engines business to support its growing customer base and order backlog of its spacecraft engines.
Astra last announced 278 cumulative committed orders of the Astra Spacecraft Engine, representing approximately $77 million of contract value.
In support of the Astra Spacecraft Engine business, Astra has reallocated approximately 50 engineering and manufacturing personnel from Launch Services to Space Products, it said in a statement.
“We are intensely focused on delivering on our commitments to our customers, which includes ensuring we have sufficient resources and an adequate financial runway to execute on our near-term opportunities,” said Chris Kemp, Founder, Chairman and CEO.
- 8/5/2023
- by Agency News Desk
- GlamSham
San Francisco, Nov 10 (Ians) Astra, a rocket startup based in the US that went public last year, has fired 16 per cent of its staff as part of a wider strategy to increase the shrinking financial runway and decrease expenses.
According to TechCrunch, the company mentioned that in order to expand its core businesses — namely, launch and spacecraft engines, it would reduce near-term investments in space services.
With 237 committed orders for its spacecraft engines from companies like Maxar, OneWeb, and Astroscale, which represents an increase of 130 per cent from the previous quarter, Astra reported that this latter segment in particular has become a growing source of revenue.
Astra is also developing Launch System 2, which includes a new rocket, software suite, and ground system, to replace the lightweight Rocket 3 vehicle, which experienced a number of launch failures this year.
The company expects to conduct initial flight tests in late 2023, according to the report.
According to TechCrunch, the company mentioned that in order to expand its core businesses — namely, launch and spacecraft engines, it would reduce near-term investments in space services.
With 237 committed orders for its spacecraft engines from companies like Maxar, OneWeb, and Astroscale, which represents an increase of 130 per cent from the previous quarter, Astra reported that this latter segment in particular has become a growing source of revenue.
Astra is also developing Launch System 2, which includes a new rocket, software suite, and ground system, to replace the lightweight Rocket 3 vehicle, which experienced a number of launch failures this year.
The company expects to conduct initial flight tests in late 2023, according to the report.
- 11/10/2022
- by Glamsham Bureau
- GlamSham
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