SpaceX plans to lay off 10% of its workforce

Billionaire entrepreneur and founder of SpaceX Elon Musk speaks at the 68th International Astronautical Congress 2017 in Adelaide on September 29, 2017.

Peter Parks | AFP | Getty Images

Billionaire entrepreneur and founder of SpaceX Elon Musk speaks at the 68th International Astronautical Congress 2017 in Adelaide on September 29, 2017.

SpaceX is planning on trimming its workforce, a company spokeswoman told CNBC.

The company said it sees “extraordinarily difficult challenges ahead” and therefore needs to “become a leaner company.”

The Los Angeles Times first reported that the Hawthorne, California-based company would be laying off about 10 percent of its staff. According to its website, SpaceX employes more than 6,000 people.

Read Story