INSUBCONTINENT EXCLUSIVE:
Elon Musk's rocket company has said it will "part ways" with some of its manpowerElon Musk's rocket company SpaceX will reduce its workforce
by about 10 per cent of company's more than 6,000 employees, it said on Friday.The company said it will "part ways" with some of its
manpower, citing "extraordinarily difficult challenges ahead"."To continue delivering for our customers and to succeed in developing
interplanetary spacecraft and a global space-based Internet, SpaceX must become a leaner company
Either of these developments, even when attempted separately, have bankrupted other organizations", a spokesman said in an email.In June,
Elon Musk fired at least seven people in senior management team leading a SpaceX satellite launch project, news agency Reuters reported in
The firings were related to disagreements over pace at which team was developing and testing its Starlink satellites.SpaceX's Starlink
program is competing with OneWeb and Canada's Telesat to be first to market with a new satellite-based internet service.The management
shakeup involved Mr Musk bringing in new managers from SpaceX headquarters in California to replace a number of managers he fired in
Seattle.Last month, SpaceX launched its first US national security space mission, when a SpaceX rocket carrying a US military navigation
satellite blasted off from Florida's Cape Canaveral.In December, Wall Street Journal reported that SpaceX was raising $500 million, taking
its valuation to $30.5 billion.The Hawthorne, California-based company had earlier outlined plans for a trip to Mars in 2022, to be followed
by a manned mission to red planet by 2024.Another Elon Musk company, electric car maker Tesla Inc, said in June it was cutting 9 per cent of
its workforce by removing several thousand jobs across company in cost reduction measures.
