Virgin Galactic Provides Business Update - Seite 3

By taking these actions now, we ensure Virgin Galactic continues to have access to the funding needed to deliver on our mission — bringing the wonder of space to both our existing customers and to the generations of customers who will follow.

What is the process for letting me know if I am being impacted?

Beginning this afternoon and extending through Thursday, we will be making phone calls to each of you to confirm your employment status. It will take a bit longer to reach everyone vs. simply sending an email, but we want to have personal discussions as much as possible. As a company, we will be working from home during the remainder of this week, as on-site work locations will be unavailable through the end of the week.

What happens next?

These actions, while necessary, come with great impact. Our teammates who will be leaving Virgin Galactic are talented, purpose-driven, and they excel in their professions… and it is deeply unfortunate to part ways with some of our co-workers and friends.

To those who will be leaving, I am very sorry these changes will impact you so directly. I want to thank each of you for the talent, passion, and perseverance you have put into our company each day — we became a commercial Spaceline this year thanks to your efforts, and I am grateful to you for the work you have done to advance the dream of opening access to space for generations to come.

To the larger teams who are not directly impacted, I know these changes can be unsettling and disruptive. Our friends and co-workers who are leaving are part of Virgin Galactic’s story and success, and while they will become a part of our history, we will miss them in our day to day interactions.

This is a tough moment… but these actions are being taken to remove reliance on unpredictable capital markets, and these actions protect our ability to succeed as we build and lead our industry through the long term. I ask for your understanding and continued engagement as we adjust our operating focus and move forward.

We will be sharing more about the plans that will take us successfully forward during our earnings call tomorrow afternoon. Next week, we will gather both in larger groups and smaller teams to answer your questions about program plans, share company economics in greater detail, and align our focus towards profitably scaling up our spaceship fleet for a global audience.

Michael

View source version on businesswire.com: https://www.businesswire.com/news/home/20231107369107/en/

The Virgin Galactic Holdings Stock at the time of publication of the news with a raise of +2,96 % to 1,740EUR on NYSE stock exchange (07. November 2023, 23:05 Uhr).