Andres Shepherd, senior equity analyst at Canter Fitzgerald, discusses President Donald Trump's space ambitions and priorities regarding “making money.”
According to a company-wide email obtained by Fox Business, Space Company Blue Origin, founded by Jeff Bezos, is set up to fire around 10% of its employees.
According to an email from CEO Dave Limp, employees in some engineering, research and development, and “program/project management” positions will lose their jobs due to layoffs. He told employees in a message that the company is “slugging the management team.”
“Our main focus from 2025 onwards is to increase production power and start cadences with customer speed, determinism and efficiency,” Limp said. “We've grown and hired very quickly over the last few years. As we grow, we've become less bureaucratic and less focus than we need to, and our role will implement these priorities. It has become clear that the organizational structure must be changed to ensure that it is best for you.”
The planned layoffs were previously reported by Reuters.
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A general view of the blue origin site, new shepherd of the blue origin rocket, March 31, 2022, of the billionaire Jeff Bezos' Company, with six crew members near Van Horn, Texas, USA. It explodes on the crew for the first time. (Reuters/Ivan Pierre Aguirre/Reuters)
According to Reuters, the company was founded in 2000. Almost 14,000 people work in Blue Origin.
Limp said in an email that he remains “very confident” in the “huge opportunity” ahead of Blue Origin.
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“We will continue to invest, invent and hire hundreds of positions in areas where we achieve our goals and provide the best service to our customers,” the CEO wrote. “We will be a stronger, faster, faster, more customer-centric company that consistently meets and exceeds our commitments. This year alone, we have landed on the moon and recorded It offers an incredible number of engines and fly new Glenn and new Shepherds with regular cadences.”
Blue Origin launched its first new Glenn Rocket in January.
