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Virgin Orbit pauses operations while it looks for funding

Launch company Virgin Orbit has temporarily halted operations and furloughed most of its employees as it looks for funding, according to media reports.

Virgin Orbit is standing down for a week, “with only a small team continuing to work,” CNBC reported on Wednesday (opens in new tab) (March 15). The company expects to provide an update about the situation to employees by next Wednesday (March 22) or Thursday (March 23).

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