Richard Branson's Virgin Orbit VORB plans to return a small group of employees on Thursday.
Three people familiar with the matter said to be familiar with the matter, Virgin Orbit plans to bring back a group of employees on Thursday to work on rocket upgrades. Virgin Orbit halted all its operations last week and has furloughed almost all of its 750 employees.
The report said that Virgin Orbit CEO Dan Hart sent an email to employees announcing the return of a few staff on Tuesday night. The number of people to return to work is not clear.
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The commercial space satellite venture of Branson is working with a restructuring firm on fallback plans for its insolvency days in the event that it can't secure new funding, according to a report.
The company stopped all operations on March 16 to bring the company out of its financial crisis. Virgin Orbit's financial constraints were further aggravated after it failed to deploy nine small satellites into lower Earth orbit early this year.
There are several investors who are talking about funding to recommence operations.
Virgin Orbit shares fell 95.4% until the last close, since the listing on the Nasdaq in May 2021.